April 25, 2013
Merrill Lynch & Co. Inc. has agreed to pay $2.9 million to settle a class action filed by ex-financial advisers who said their former employer made them wait an unlawfully long time to receive commission checks after they had left the company, according to a motion filed Thursday in California federal court.
May 11, 2012
Merrill Lynch Pierce Fenner & Smith Inc. on Thursday lost its bid to boot a class action accusing it of failing to promptly pay commissions to departing employees, after a California federal judge disputed the bank's interpretation of the state's labor codes.