Brokerage Firm Settles EEOC Religious-National Origin Discrimination Suit

Reuters reported yesterday that Merrill Lynch has agreed in a settlement with the EEOC to pay former employee Majid Borumand $1.55 million in damages, back pay and legal fees in a suit alleging that the financial analyst was not promoted and then was fired because he was an Iranian Muslim. Merrill also agreed to train employees to avoid future religious and national origin discrimination and retaliation. The EEOC will monitor Merrill for two years.