Gender Discrimination
Morgan Stanley > Gender Discrimination/Bias
Discrimination Complaint
Consent Decree
Morgan Stanley Sex-Bias Suit to Go to Trial
July 8, 2004. A jury consisting of 8 women and 4 men will decide whether Morgan Stanley, the first Wall Street firm to defend itself in a U.S. court against allegations of sexual bias, is guilty of these charges or not.
U.S. District Judge Richard Berman has ruled that the case will focus only on whether there's been systemic discrimination at Schieffelin's division since 1995. Should the EEOC prevail, a judge will hold hearings on claims from as many as 340 women who are covered by the case. EEOC is contending that the former Morgan Stanley bond seller Allison Schieffelin and more than 300 other women were paid and promoted less than men at Morgan Stanley. Under federal law, the EEOC may seek damages of up to $300,000 per victim. Individual women may also seek lost wages.
Strip Clubs, Groping and Slaps on the Rear
The lead plaintiff, former bond seller Allison Schieffelin, says Morgan Stanley condoned a hostile workplace where men made sexist comments and organized trips to topless bars and strip clubs.
Women were excluded from the outings, she said, which sometimes included her clients. About 20 women are expected to testify that they were excluded from male-only outings, including trips to strip clubs, and subjected to crude behavior like groping, and slaps on the rear,. Some told the EEOC that the firm withheld raises and desirable assignments from women who took maternity leave.
Glass Ceiling
After graduating from Northwestern's Kellogg School of Management, Ms. started at Morgan Stanley and after 10 years she was told that she would not be promoted to managing director. According to Schieffelin, she was told she was "snippy," while men were praised as "aggressive." She was also not offered training on how to improve her interpersonal skills.
Press Release: Outter & Golden Law Firm
EEOC Files Sexual Discrimination Lawsuit Against Morgan Stanley in 2001
Original suit against Morgan Stanley Dean Witter alleging gender discrimination against Allison Schieffelin, a former convertible bond sales representative, and as many as 100 other women in the company's Institutional Equity Division, was filed by the U.S. Equal Employment Opportunity Commission (EEOC) on September 10, 2001. EEOC also alleged that Morgan Stanley retaliated against Ms. Schieffelin, and ultimately fired her, after she voiced her opposition to discriminatory practices at the firm.
EEOC stated that the "suit charges Morgan Stanley with having engaged in a pattern or practice of discrimination against women in the Institutional Equity Division who held positions as associate, vice president, principal, and managing director by compensating them less than their male colleagues and by limiting their opportunities for professional advancement."
The EEOC has also claimed that the bank has been making the investigation difficult. And the agency says it was forced to call upon a federal judge to get Morgan Stanley to release basic documents needed for the investigation.
EEOC's Press Release - September 10, 2001 EEOC Files Sexual Discrimination Lawsuit Against Morgan Stanley