Merrill Lynch and Bank of America Sued for Gender Discrimination and Retaliation
April 5, 2010
As Carson, California Employment Lawyers, we have been following the recent announcement that newly merged Merrill Lynch and Bank of America are being sued by three female Financial Advisors, accusing the companies of gender discrimination and retaliation.
The three plaintiffs, Judy Calibuso, Julie Moss, and Dianne Goedtel, had reportedly been financial advisers for the companies for fifteen, nine, and seven years respectively. In the lawsuit, filed as a national class action suit, they accused Merrill Lynch and Bank of America of subjecting female financial advisers to a pattern and practice of discrimination based on their gender, in compensation, professional support, business opportunities and other employment terms and conditions-- violating state and federal laws including Title VII of the Civil Rights Act of 1964, the New York State Human Rights Law, and the Florida Civil Rights Act of 1992.
The complaint alleges Merrill Lynch and Bank of America treat their female Financial Advisors like "second class citizens," and have given male colleagues of equal capabilities better professional opportunities. The companies are also being accused of failing to ensure equal opportunities for female financial advisers in partnership opportunities, account distributions, pay-out rates, income increasing opportunities, and other benefits in its plan of compensation.
Calibuso, Moss, and Goedtel also claimed that the companies acted in retaliation against them when they complained about experiencing inequality in the workplace. One of the financial advisers claimed that after she reported the inequality, she was reprimanded verbally, and immediately required to seek pre-approval when filing expense reports for business lunches--something that her male colleagues were not asked to do.
According to Civil Rights 1964, it is illegal to discrimination against an employee because of his or her gender when it comes to any aspects of employment, including promotions, work assignments, hiring, firing, compensation, training, or other terms of employment.
If you, or someone you know has experienced gender based discrimination or retaliation in the workplace, our team of experienced California Labor and Employment Attorneys can aggressively represent you and protect your employment rights. Contact Howard Law, PC today.
Gender Discrimination Suit Filed Against Bank of America and Merrill Lynch, Ms. Magazine, March 31, 2010
3 Women Sue BofA and Merrill Lynch Over Bias, AP/The New York Times, April 8, 2010
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