Morgan Stanley To Pay $46M To Female Brokers

Law360, New York (April 24, 2007, 12:00 AM EDT) -- Morgan Stanley will hand over $46 million to settle a nationwide class action brought by female brokers who accused the investment bank of systemic, company-wide sex discrimination.

The Wall Street firm's retail brokerage division, Global Wealth Management Group (GWMG), announced the deal Tuesday, which resolves all claims against Morgan Stanley by the women, who first sued in June 2006.

Notice of the settlement was filed with the U.S. District Court for the District of Columbia within hours of an amended class complaint being lodged Tuesday....
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