Merrill Lynch Race-Bias Case Dismissal Upheld on Appeal
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Merrill Lynch & Co. won an appeal upholding a federal judge’s dismissal of the second of two race-bias lawsuits filed against it by black financial advisers.
The U.S. Court of Appeals in Chicago today affirmed U.S. District Judge Robert Gettleman’s decision last year to throw out the complaint filed against Merrill Lynch and Bank of America Corp. The Charlotte, North Carolina-based lender acquired the securities firm for $33 billion in 2009.