An arbitration panel in a sex discrimination case brought against Merrill Lynch found there was a pattern of bias by the company against female brokers in wages and promotions. The suit was brought by a former female broker in the firm's San Antonio office and built on a settlement awarded to eight current and former brokers who brought a class-action discrimination suit against the company in 1997. Merrill Lynch officials have denied any pattern of discrimination at the firm and claim that any past instances of inappropriate behavior against women have been addressed.
See "Panel finds sex bias at Merrill Lynch", Ameet Sachdev, Chicago Tribune, April 20, 2004