Merrill Lynch Can't Force Arbitration Of Wage Class Action

Law360, New York (September 11, 2013, 6:02 PM EDT) -- Merrill Lynch & Co. Inc. failed to convince a New York federal judge to force financial advisers who filed a proposed wage-and-hour class action against the company to arbitrate their dispute, after the judge found the Financial Industry Regulatory Authority rules that governed the agreement between the parties forbade arbitration.

U.S. District Judge Harold Baer Jr. rejected the financial services company's argument that the employees agreed to individually arbitrate their claims upon registering with FINRA, and that they were therefore obligated to enter into arbitration in...
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