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Strategies & Market Trends : Mu Gamma Lambda -- Ignore unavailable to you. Want to Upgrade?

To: Augustus Gloop who wrote (5769)	9/7/2001 11:21:57 AM
From: MulhollandDrive	Read Replies (1) \| Respond to of 10077

I'm filing this under "what" were they thinking (MS) and maybe more importantly, "what" were they thinking with. :) Morgan Stanley Facing Possible Lawsuit Sep 7 10:43am ET NEW YORK (Reuters) - Morgan Stanley is facing a potential lawsuit stemming from a sexual discrimination complaint filed by a bond saleswoman the Wall Street firm fired last October, a company source said on Friday. The Equal Employment Opportunity Commission, responsible for preventing bias based on race, gender or age in the workplace, has notified the Wall Street firm of the possible litigation, the source said, speaking on the condition of anonymity. In June, the EEOC found Morgan Stanley discriminated against Allison Schieffelin, a bond saleswoman who made upwards of $1 million a year, and other female employees. Schieffelin, who worked for the investment bank for 14 years, filed a formal complaint in November 1998 claiming Morgan Stanley denied promotions to women and paid them less because of their gender. Her complaint also contended female brokers were left out of firm-sponsored trips to strip clubs and Las Vegas. "Mutual respect and nondiscrimination are core values here, and if we have to go to court to prove it, we will," said a spokeswoman for Morgan Stanley, which has disputed the EEOC's findings. A spokesman for the agency declined to comment. Morgan Stanley and the EEOC have been in discussions to settle the matter, the source said. Wall Street firms have traditionally been a male-dominated culture and have been hit with sex discrimination suits in recent years. Merrill Lynch & Co. Inc. and Smith Barney, now a unit of Citigroup Inc. , each settled cases in 1998.