Gender discrimination suit filed against Bank of America Merrill Lynch

Close on the heels of the "mommy track" suit against Goldman Sachs (NYSE:GS) and a female trader's suit against RBC Capital, three female financial advisors have filed suit against Bank of America Merrill Lynch (NYSE:BAC), alleging gender discrimination.

The lead plaintiff appears to be Judy Calibuso, a current Merrill Lynch Financial Advisor in Miami. The suit charges that Merrill Lynch discriminates against female advisors in a variety of ways: Account distributions, partnership opportunities, upfront money, pay-out rate and other benefits in its compensation plan, as well as in other opportunities for brokers to boost their income.

At least there's no charges of the boom-boom rooms of old, which factored into yesteryear's suits. I doubt this will get to trial, but you never know. This is not the first suit against Merrill Lynch. A similar suit was brought in July. At some point, we might expect them to be consolidated; no doubt various attorneys would like to own a class-action suit.     

For more:
- here's a release

Related Articles:
Goldman Sachs executive files mommy track suit
Bank manager fired for being too successful?
E-Trade sued by Lindsay Lohan
Citigroup agrees to another bias settlement

Post a comment