BofA To Pay $39M To Settle Sex Bias Class Action

Law360, Los Angeles (September 6, 2013, 8:27 PM EDT) -- Bank of America Corp. and Merrill Lynch & Co. Inc. have agreed to pay $39 million to settle a class action brought by women employed as financial advisers for alleged discrimination in compensation and business opportunities, according to a motion filed Friday in New York federal court.

The motion for preliminary approval of the settlement comes a year after a New York federal judge denied Bank of America’s bid to nix class claims in the lawsuit, saying the bank’s argument that the U.S. Supreme Court’s Dukes...
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