Morgan Stanley Agrees to Settle Gender Bias Suit

According to Rueters news agency, Morgan Stanley a major Wall Street firm has agreed to settle claims in a lawsuit alleging that the brokerage firm discriminated against thousands of female financial advisors by paying them less than male financial advisors. Six former Morgan Stanley female brokers last June filed a suit that is now estimated to have more than 3,000 claimants who worked at the brokerage from August 5, 2003, to the present. A formal settlement and request for preliminary approval will be filed in court in four to six weeks, the status report said. March 2007.