Brokerage giant settles discrimination lawsuit

CHICAGO • Hundreds of black financial advisers have reached a $160 million settlement in a lawsuit accusing Wall Street brokerage giant Merrill Lynch of racial discrimination, a plaintiffs’ attorney said Wednesday. If approved by a federal judge in Chicago as expected, the payout by Merrill Lynch to around 1,200 plaintiffs would be one of the largest ever in a racial discrimination case, Chicago-based attorney Suzanne E. Bish said. Merrill Lynch, which was purchased by Bank of America in 2009, r...

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