Huge payout, to black brokers who were treated as second-class brokers at Merrill Lynch.
The piece begins:
Merrill Lynch, one of the biggest brokerage firms on Wall Street, has agreed to pay $160 million to settle a racial bias lawsuit that wound through the federal courts for eight years, including two appeals to the United States Supreme Court.
Here’s the whole Times piece by Patrick McGeehan: Merrill Lynch in Big Payout for Bias Case – NYTimes.com.
McGeehan notes that this case took 8 years to settle but the plaintiffs just held on and kept going.