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EEOC, Merrill Lynch Reach $1.5M Deal

Law360 (December 31, 2008, 12:00 AM EST) -- The U.S. Equal Employment Opportunity Commission has reached a $1.5 million deal with Merrill Lynch over allegations that the investment bank discriminated against a worker and eventually fired him because he is an Iranian Muslim.

On Tuesday, the EEOC and Merrill filed a joint consent decree in the U.S. District Court for the Southern District of New York, putting an end to the discrimination suit brought in June 2007 on behalf of Majid Borumand.

Under the truce, Merrill Lynch will fork over $1.5 million, shelling out...
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