A federal appeals court panel in Chicago Friday granted class-action status to a group of African-American brokers in their lawsuit accusing Bank of America Corp.'s (BAC) Merrill Lynch unit of bias, reversing a lower court ruling, Reuters reported on its website.
Judge Richard Posner, writing for a panel of the 7th U.S. Circuit Court of Appeals, said he had "trouble seeing the downside" of allowing about 700 brokers to pursue the lawsuit. The brokers have accused Merrill Lynch of discrimination in hiring, pay and promotions.
Full story at: www.reuters.com/article/2012/02/24/bankofamerica-bias-lawsuit-idUSL2E8DO5U420120224
-Dow Jones Newswires; 212-416-2900
