$39M Merrill Lynch Deal Won't Stop Sex Bias, Judge Told

Law360, New York (December 2, 2013, 1:41 PM EST) -- A group of female financial advisers employed by Bank of America Corp. and its Merrill Lynch & Co. Inc. unit urged a New York federal judge Friday to reject a proposed $39 million class action gender discrimination settlement, saying the deal would “enshrine” sex bias on Wall Street.

Seventy-five class objectors told U.S. District Judge Pamela K. Chen that the programmatic changes Bank of America purportedly agreed to adopt in its internal financial account distribution policy are illusory and will do nothing to bolster business opportunities...
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