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Massive race discrimination suit against Merrill Lynch resolved

On Behalf of | Sep 11, 2013 | Workplace Discrimination

Anytime a certain protected class or group of employees feels there has been prolific discrimination, a suit can filed but take years to come to resolution. However, the outcome can change the way an entire corporation does business and treats the next generation of employees. These are the hopes of the 1,200 plaintiffs who were all part of one of the biggest racial discrimination suits filed. Any Colorado employees who feel race discrimination exist in their work place may be encouraged by the outcome of the suit.

The suit was against investment giant Merrill Lynch. The company has settled the suit for $160 million. The firm however would not comment on any such settlement. The suit was brought about in 2005 and charges the company with overt and widespread discrimination against African Americans.

In the suit, it is alleged that lack of diversity was an issue as was lack of chance to advance. There was also alleged stereotypes exhibited with one example citing how managers suggested African American brokers consider learning to play golf so they could understand business dealings better. The suit also contends that efforts were made to exclude African Americans from being allowed access to higher paying or high-profile clients.

The suit took years to come to a resolution but the settlement may act as a means of fixing some of the alleged wrongs the suit addresses. Any kind of race discrimination lawsuit may be difficult to prove and a lengthy process. But, the results for any Colorado company or other companies in the United States can truly impact how a company goes forth to ensure fairness prevails and racial discrimination issues are behind them.

Source: USA Today, Merrill Lynch settles discrimination lawsuit, Shelley DuBois, Aug. 29, 2013