Reuters: U.S.: Supreme Court rejects appeal over Merrill broker bias

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Supreme Court rejects appeal over Merrill broker bias Oct 1st 2012, 14:06 WASHINGTON | Mon Oct 1, 2012 9:56am EDT WASHINGTON (Reuters) - The Supreme Court on Monday refused to consider an appeal by Bank of America Corp's Merrill Lynch unit of a ruling that allowed black brokers who accused it of bias to pursue their lawsuit as a class action. Merrill contended that the 7th U.S. Circuit Court of Appeals in Chicago misinterpreted a 2011 Supreme Court decision, in a case known as Wal-Mart Stores Inc v. Dukes, that made it significantly harder to pursue class-action cases. The lawsuit accused Merrill of steering blacks into clerical positions and diverting lucrative accounts to white brokers, resulting in lower pay and fewer career growth opportunities.

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