Merrill Lynch Prepared To Pay $160 Million To Settle Race Bias Class Suit

Merrill Lynch Prepared To Pay $160 Million To Settle Race Bias Class Suit

CHICAGO - A class of black brokers on Aug. 28 filed an unopposed motion in the U.S. District Court for the Northern District of Illinois for provisional certification of their settlement class and preliminary approval of a $160 million settlement to be paid by Merrill Lynch, Pierce, Fenner & Smith Inc. (George McReynolds, et al. v. Merrill Lynch, Pierce, Fenner & Smith, Incorporated, No. 05-6583, N.D. Ill.).

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