The White Law Group continues to investigate recovery options for those Merrill Lynch former employees that were denied deferred compensation benefits.
Financial advisors, traders, salespersons and other employees continue to file FINRA arbitration claims against Merrill Lynch over compensation which was denied to them.
As evidence of the validity of these claims, a three-person Financial Industry Regulatory Authority Inc. panel recently awarded two former Merrill Lynch financial advisors over $10 million ($5 million in compensatory damages and $5 million in punitive damages) over deferred compensation benefits allegedly owed to the advisors.
The arbitration panel, in a sharply worded decision, said a Merrill Lynch committee that determines whether to vest departing brokers in their deferred pay was nothing "but a sham committee that did nothing more than rubber-stamp denials."
If you are a former Merrill Lynch employee owed deferred compensation benefits, please contact the securities attorneys of The White Law Group at 312/238-9650 for a free consultation.
For more information on the recent FINRA award against Merrill Lynch relating to deferred compensation benefits, please visit:
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.