If you were employed as a Financial Advisor at Merrill Lynch in the United States as of September 15, 2008, you may be entitled to receive a payment from the Merrill Lynch Financial Advisor class action settlement.
Merrill Lynch & Co, Inc., Merrill Lynch, and Bank of America Corporation (collectively “Merrill Lynch” or “Defendants”) reportedly have agreed to a settlement of a class action lawsuit against Merrill Lynch in the United States District Court for the Southern District of New York (styled Chambers v. Merrill Lynch & Co., Inc., Case No. 1:10-cv-07109) (Judge Alison J. Nathan) alleging, among other things, that certain Merrill Lynch Financial Advisors as of September 15, 2008 voluntarily terminated their employment with Merrill Lynch “for Good Reason” following the merger between Bank of America Corporation and Merrill Lynch & Co, Inc. and were entitled to receive certain amounts under the Merrill Lynch Financial Advisor Capital Accumulation Award Plan (“FACAAP”); and/or the Merrill Lynch Growth Award Plan for Financial Advisors (“Growth Award”); and/or the Merrill Lynch Wealthbuilder Account Plan (“Wealthbuilder”) (collectively, the “Plans”) as a result of their voluntary terminations, according to the Merrill Lynch Financial Advisor class action settlement notice.
Who Is Included In The Merrill Lynch Financial Advisor Class Action Settlement?
The Merrill Lynch Financial Advisor settlement class reportedly includes, subject to certain exceptions, persons employed by Merrill Lynch in the position of Financial Advisor in the United States, as of September 15, 2008, (1) participated in one or more of the Plans; (2) voluntarily terminated their employment (excluding retirement) on or before June 30, 2012 while holding the position of Financial Advisor and had unvested awards in one or more of the Plans at the time of their termination; (3) had 2008 Production Credits of $500,000 or less; (4) did not sign and/or accept the original or amended ATP; and did not separately settle or adjudicate any of the claims.
What Settlement Benefits Does The Merrill Lynch Financial Advisor Class Action Settlement Provide?
Under the Merrill Lynch Financial Advisor class action settlement, Merrill Lynch has reportedly agreed to pay Settlement Class Members’ Individual Gross Settlement Sums; claims administration costs; attorneys’ fees and costs; and an enhancement payment to the Class Representatives. The amount of individual settlement payments, prior to a deduction for applicable payroll taxes—ie the Individual Gross Settlement Sum—was reportedly listed on the Disclosure Form or Claim Form sent to settlement class members.
How To Obtain More Information About the Merrill Lynch Financial Advisor Class Action Settlement?
For more information about the Merrill Lynch Financial Advisor class action settlement, call 1-800-380-6343 or visit the Merrill Lynch Financial Advisor settlement website at www.chambersvmerrilllynchclaimsadministrator.com.
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