Calibuso v. Bank of America

In 2013, Outten & Golden and its co-counsel secured $39 million for female financial advisors at Bank of America and Merrill Lynch who accused the companies of gender discrimination.

Specifically, the complaint charged that Bank of America and Merrill Lynch engaged in a pattern and practice of gender discrimination against female financial advisors with respect to business opportunities, compensation, professional support, and other terms and conditions of employment.

The women alleged that Merrill Lynch, a wholly owned subsidiary of Bank of America, discriminated against female Financial Advisors in account distributions; partnership opportunities; upfront money, pay-out rate, and other benefits in its compensation plan; as well as in other opportunities for brokers to increase their income.

The complaint alleged violations of Title VII of the Civil Rights Act of 1964 and New York, New Jersey and Florida anti-discrimination laws.