Morgan Stanley Prevails in Dismissing Class-Action Discrimination Suit

December 3, 2018

A federal judge in New York City has granted Morgan Stanley’s motion to dismiss a purported class-action lawsuit alleging discrimination in the way the firm allocated accounts to African Americans and women.

U.S. Circuit Judge Richard Sullivan acknowledged the “potentially-far-reaching consequences” for African Americans of the ‘serious” allegations, but ruled that three of the seven named plaintiffs in “Kathy Frazier et al versus Morgan Stanley” are required by their…

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