Merrill Lynch was ordered to pay $2.27 million.

A federal district court jury in Sioux Falls, S.D., ordered Merrill Lynch & Co.’s brokerage unit to pay $2.27 million in damages to the estate of Ethlyn Davis, a woman whose account was allegedly misused by the firm, lawyers for the estate said. The suit alleged that the brokers engaged in fraud and “churning,” which involves the buying and selling of account funds for the benefit of the broker rather than the client, the estate’s attorney said. A Merrill Lynch attorney said the company will appeal.