(June 19 – 16:05 ET) – A couple of former Merrill Lynch brokers are suing the firm in the U.S. alleging that the company withheld compensation when they left the firm, according to an article in the WallStreetLetter.

The article reports that two former Merrill brokers from Las Vegas, Larry Marina and Chris McInnis, are suing the firm for allegedly withholding pay in the form of both cash and stock after they left the firm. The WSL reports that they agreed to 35% of trailing 12-months commission as a recruitment incentive when they signed on with the firm, 75% of it in cash and 25% in stock, on a four-year note. Marina said he made this deal on a handshake, but when he received his actual contract several months into the job he found that the stock didn’t vest until retirement. Marina told the WSL he was “misled”.

The pair are seeking compensatory, punitive and special damages. Merrill denies their claims and points out that the stock actually vests after 10 years. It also points out that the firm offers some of its recruiting compensation in stock in heed of the Tully Commission, which recommended against big cash signing bonuses.