This website pertains to the proposed settlement of the case titled Gilbert v. Merrill Lynch, Pierce, Fenner & Smith, Inc., filed in the Fifteenth Judicial Circuit in and for Palm Beach County, Florida. This website provides information regarding the lawsuit, the settlement, your legal rights, and what benefits are available.
If you worked for Merrill Lynch as a Client Associate, Senior Client Associate, Registered Client Associate, and/or Senior Registered Client Associate (collectively, “CA”) while studying for your Series 7, Series 63, Series 65, and/or Series 66 licensing exams between April 3, 2014 and April 3, 2017, you may be entitled to a payment from the settlement of a collective action lawsuit if you complete and return a timely and valid Consent to Join form.
A former Client Associate known as the “Plaintiff” has sued Merrill Lynch in a lawsuit filed as a collective action under the Fair Labor Standards Act (“FLSA”), alleging that Merrill Lynch failed to pay her and other CAs properly for all overtime hours they worked. The Plaintiff alleges that CAs were required to work off the clock and not permitted to record all hours worked, including, but not limited to, time spent studying for their exams, including from home.
Merrill Lynch denies the allegations in the lawsuit, and maintains that it at all times properly compensated its CAs. The parties have entered into this settlement solely with the intention to avoid further disputes and litigation with the attendant inconvenience and expense. The Court has not made any ruling on the merits of the Plaintiff’s claims, and no party has prevailed in this action.
Under the allocation formula created by the settlement, you are entitled to receive an award, subject to deductions for applicable taxes. This amount is based on the number of weeks you worked for Merrill Lynch as a CA during the applicable time period covered by this settlement, as well as the number of those weeks worked while studying for your Series 7, Series 63, Series 65, and/or Series 66 licensing exam(s), all according to Merrill Lynch’s records.
Your legal rights may be affected, and you have a choice to make now.
Please review the links at the top of the page for more information.
This website is designed and maintained by the Claims Administratorfor the lawsuit known as Gilbert v. Merrill Lynch, Pierce, Fenner & Smith, Inc.,filed in the Fifteenth Judicial Circuit in and for Palm Beach County, Florida.