Wednesday, March 28, 2007
$14 Million Arbitration Award Upheld Against Merrill
A federal district court refused to vacate a $14 million defamation award by a NYSE arbitration panel to three former Merrill Lynch brokers who said that they were fired as scapegoats in the market-timing scandal. The court cited the narrow grounds for vacating an arbitration award. See WSJ, Court Upholds Award to Brokers Fired by Merrill.