Merrill Lynch & Co. Inc. has agreed to pay $1.55 million to settle a lawsuit involving an employee who said he was fired because he was an Iranian Muslim, the U.S. Equal Employment Opportunity Commission announced last week.
The lawsuit, which was filed by the EEOC in the Southern District of New York in June 2007, alleged that the New York-based brokerage giant failed to promote the complainant, a quantitative analyst in its Model Development Group, in August 2005 and ultimately terminated him because of his national origin and religion.
Comments