Morgan Stanley said Tuesday it has settled a gender bias class action suit that alleged the New York investment bank discriminated against female brokers and trainees in promotion and compensation. Under the terms of the settlement, subject to the approval of the U.S. District Court for the District of Columbia, the company set aside $46 million to pay claims of discrimination. The class includes about 2,700 claimants. Morgan Stanley employs about 8,000 brokers.
April 25, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Morgan Stanley said Tuesday it has settled a gender bias class action suit that alleged the New York investment bank discriminated against female brokers and trainees in promotion and compensation.
Under the terms of the settlement, subject to the approval of the U.S. District Court for the District of Columbia, the company set aside $46 million to pay claims of discrimination.
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