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McREYNOLDS v. MERRILL LYNCH & CO., INC.

No. 11-1957.

694 F.3d 873 (2012)

George McREYNOLDS, et al., Plaintiffs-Appellants, v. MERRILL LYNCH & CO., INC., et al., Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided September 11, 2012.

Attorney(s) appearing for the Case

Linda Debra Friedman (argued), Senior Attorney, Stowell & Friedman, Chicago, IL, for Plaintiffs-Appellants.

Allan D. Dinkoff (argued), Jeffrey S. Klein , Attorneys, Weil, Gotshal & Manges LLP, New York, NY, Stephen M. Shapiro , Attorney, Mayer Brown LLP, Chicago, IL, for Defendants-Appellees.

Julie Loraine Grantz , Attorney, Equal Employment Opportunity Commission, Washington, DC, for Amicus Curiae Equal Employment Opportunity Commission.

Samuel S. Shaulson , Attorney, Morgan, Lewis & Bockius, New York, NY, for Amici Curiae Securities Industry and Financial Markets Association, American Bankers Association, and Chamber of Commerce of the United States of America.

Rae T. Vann , Attorney, Norris Tysse Lampley & Lakis, Washington, DC, for Amicus Curiae Equal Employment Advisory Council.

Before SYKES and TINDER, Circuit Judges, and DeGUILIO, District Judge.

SYKES, Circuit Judge.

In 2005 a group of brokers at Merrill Lynch sued the firm under 42 U.S.C. § 1981 and Title VII raising various claims of racial discrimination and seeking to litigate the claims as a class. Among other things, they alleged that the firm's "teaming" and account-distribution policies had the effect of steering black brokers away from the most lucrative assignments and thus prevented them from earning compensation comparable to white brokers...

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