BofA Strikes $160M Deal In Merrill Brokers' Race Bias Suit

Law360, New York (August 28, 2013, 5:41 PM EDT) -- Bank of America Corp.'s Merrill Lynch & Co. Inc. subsidiary has agreed to pay $160 million to settle claims that it discriminated against its black financial advisers, an attorney representing the plaintiffs said Wednesday.

Both sides are currently working toward finalizing the details of the settlement, said Stowell & Friedman Ltd.'s Suzanne E Bish, who is representing the plaintiffs. They hope to present the settlement to an Illinois judge for approval next week, she said.

Bish declined to disclose the injunctive relief being sought against Merrill...
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