Ex-Merrill Lynch Broker Brings Class Claim Over Forfeited Deferred Comp

May 2024 // AdvisorHub

Ajamie has filed a class action lawsuit against Merrill Lynch on behalf of a former financial advisor whose deferred compensation was forfeited when he left in 2021. We argue that Merrill’s forfeiture practice violates ERISA, including its vesting and anti-forfeiture provisions. This lawsuit is part of our ongoing efforts to challenge similar industry practices, following a $79 million settlement against Wells Fargo and ongoing proceedings against Morgan Stanley. We are committed to seeking justice for our client and others affected by these forfeiture practices.

Read the full article here