Morgan Stanley
A female financial advisor at Morgan Stanley DW, Inc. filed a national class action lawsuit charging the company with gender discrimination. On June 22, 2006, a female financial advisor at Morgan Stanley DW, Inc. filed a national class action lawsuit charging the company with gender discrimination.
The lawsuit, called Jaffe v. Morgan Stanley DW, Inc., was filed a San Francisco federal court. Morgan Stanley DW, Inc. is the retail brokerage arm of Morgan Stanley.
The plaintiff accuses Morgan Stanley DW, Inc. of practising gender discrimination against its female financial advisors by giving male financial advisors a bigger share of business opportunities, accounts and renumeration.
The complaint says that Morgan Stanley assigns fewer and less lucrative accounts to female financial advisors who are given fewer business leads than their male counterparts. The consequence of which results in male brokers nabbing more accounts and bigger financial compensation.
The complaint alleges violations of federal and state laws, including Title VII of the Civil Rights Act of 1964 and the California Fair Employment and Housing Act on behalf of the plaintiff and the class.
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