US brokerage to payout US$160m in discrimination suit
Published:Thursday | August 29, 2013 | 9:52 AM
Brokerage giant Merrill Lynch has settled a racial discrimination lawsuit for US$160 million, which could affect as many as 1,200 employees in the US.
It is one of the largest sums ever paid in a discrimination suit.
The suit was first filed by George McReynolds, who worked at the bank for 30 years.
McReynolds alleged that African-American workers at Merrill Lynch offices were encouraged to pursue clerical positions in a segregated workforce and were provided little support.
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