Merrill Lynch Settles Suit Alleging Systemic Race, Sex Bias (1)

Two Merrill Lynch executives reached a deal with the investment management company and its parent Bank of America Corp. to end their proposed class action.

The case was dismissed with prejudice after the parties notified the court that they reached a settlement in principle, according to an April 18 order signed by Judge Denise L. Cote of the US District Court for the Southern District of New York. Linda Davila and Cathy Bender, two Black senior vice presidents at Merrill, alleged they were regularly excluded from White, male-dominated teams because of their race and sex. Merrill’s alleged discriminatory practices have ...