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: New Jersey Law Blog

Stark & Stark Shareholder Comments on Bank of America Incentives

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Thomas B. Lewis, Shareholder and Chair of Stark & Stark's Employment group, was quoted in the November 6, 2008 Bloomberg.com article Bank of America Says Merrill Brokers Can Quit Without Penalty.

 

Mr. Lewis commented on the recent announcement made to the roughly 15,500 brokers Bank of America acquired after buying Merrill Lynch this past September which said that they have the ability to quit without penalty, however, if they stay, they will qualify for a bonus of as much as 100% of their annual revenue. Mr. Lewis states that the memo was created in order to alleviate the concerns of senior Merrill brokers.

 

You can read the fill article on Bloomberg.com here. (Also available in PDF here.)

Full post as published by New Jersey Law Blog on November 06, 2008 (boomark / email).

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