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Nancy Thomas v. Merrill Lynch, Pierce, Fenner & Smith Inc. - 2/28/2007

Award Amount- $420,000 in damages plus $1,000,000 in attorneys’ fees and costs

Case Summary: On February 28, 2007, an arbitration panel awarded our client, Nancy Thomas, $420,000 against Merrill Lynch, Pierce, Fenner & Smith Inc. for gender discrimination in compensation and retaliation. Ms. Thomas was a financial consultant at Merrill Lynch for almost 18 years. After 36 days of hearings and testimony from 22 witnesses, the arbitrators awarded Ms. Thomas $320,000 in lost compensation damages and interest for Merrill Lynch’s gender discrimination in the distribution of client accounts in violation of Title VII, the Equal Pay Act, and the New York State and New York City Human Rights Laws, based in part on statistical evidence. The arbitrators also awarded Ms. Thomas $100,000 in emotional distress damages for Merrill Lynch’s retaliation against her for her complaints about gender discrimination, including her being one of the named class plaintiffs in the Cremin v. Merrill Lynch class action. The arbitrators also awarded attorneys’ fees and costs, which the parties then agreed were $1,000,000.

Click here to read the arbitrators’ Decision And Award.

Jeffrey L. Liddle

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