Even as Merrill Lynch moved to a $40 million settlement in response to a class action lawsuit this week, some experts ask whether it will be enough to satisfy some several thousand advisors who left the firm following its acquisition by Bank of America.
"I don't know if this is the start of a resolution or the creation of a tinder box of further litigation," David Gehn, a partner at Gusrae Kaplan Nusbaum, who has represented claimants with deferred compensation claims against Merrill Lynch, said Friday.
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access