Morgan Stanley

Reno, NV: (Feb-07-08) Deborah Dodson, a former Morgan Stanley broker, brought a lawsuit against Morgan Stanley, alleging that she faced gender discrimination at the firm's Tacoma, Washington branch. The suit stated that Dodson worked as a Morgan Stanley financial advisor from 1996 to 2005, and that the firm had tried to keep Dodson from speaking out publicly about the discrimination that took place while she worked for the firm. She claimed that she was denied a lucrative joint production agreement with a senior advisor when the partnership was given to a less experienced and less qualified male broker in the office. Dodson filed suit against Morgan Stanley in 2006 after she filed a complaint with the US Equal Employment Opportunity Commission (EEOC) in 2004. Following an investigation, the EEOC found reasonable cause to believe that Morgan Stanley's policy of allowing established financial advisors to subjectively choose partners for lucrative agreements resulted in Dodson being unlawfully denied such a partnership because of her gender.

Dodson alleged that she was denied the partnership in part because of the social relationship between the Tacoma Branch Manager and the male broker who received the partnership. The Morgan Stanley senior advisor described this to Dodson as the "good old boy" way of doing business. As part of a settlement reached, the firm agreed to pay Dodson $750,000 to resolve the lawsuit. [AXCESS NEWS: GENDER DISCRIMINATION]

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Published on Feb-10-08