Haber Polk LLP News
Federal Age Bias Suit Filed Against Merrill Lynch
CLEVELAND, July 16 PRNewswire-USNewswire — One of America's top stockbrokers has filed a federal lawsuit against Merrill Lynch.
(Photo: http://www.newscom.com/cgi-bin/prnh/20071011/CLTH082 )
65-year old Lou Telerico, of Aurora, Ohio, the former top money maker for Merrill Lynch in Cleveland claims his former employer fired him after he refused to leave at their request.
The suit, filed Friday in United States District Court alleges that during a May 2006 meeting, Merrill Lynch executives told Mr. Telerico they wanted him to retire. Telerico contends the brokerage house intended to divide and distribute his accounts among less experienced brokers.
"Lou Telerico worked tirelessly for 30 years at Merrill Lynch, building his book of business and making a lot of money for the company. When Lou refused to retire and give his book of business to younger, lower paid financial advisors, Merrill Lynch made sure that he had no choice. They forced him out of the company and the industry," says Telerico's lawyer, Andy Kabat of Haber Polk LLP.
Telerico's legal team includes nationally known civil right attorney Avery Friedman and attorneys Andrew Kabat and Shannon Polk of Haber Polk LLP. In May, Haber Polk won a $2,000,000 age bias verdict against Realty One and this month, a $46,000,000 verdict against Republic Services Inc.
Mr. Telerico is seeking unspecified damages. No hearing date has been set for the case. The case is assigned to U.S. District Judge Patricia A. Gaughan of the Northern District of Ohio.
Contact Information: Andrew A. Kabat Haber Polk LLP Eaton Center, Suite 620 1111 Superior Ave. Cleveland, OH 44114 216-325-0106/ 216-241-0700 akabat@haberpolk.com Amy Castelli Castelli Media Group, Inc. 216-403-4715 Castellimedia1@aol.com
SOURCE Haber Polk LLP
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