Associated Press, "Broker sues Morgan Stanley alleging sex discrimination"

          A former female broker of Morgan Stanley DW Inc. filed a class-action lawsuit against the brokerage Thursday alleging sex discrimination. The lawsuit, filed in federal court in San Francisco, alleges that the company's female financial advisors are denied the same business opportunities as their male counterparts, and are therefore paid less.
          The plaintiff, Daisy Jaffe, who worked at the company's San Mateo office from 1982 to 2005, claims the company favored less-qualified male colleagues, who were given more valuable client accounts. Jaffe, 51, also alleges age discrimination.
          The lawsuit alleges Morgan Stanley DW, which has more than 500 retail locations nationwide, has created a system in which branch managers routinely assign fewer and less valuable accounts to female brokers, said plaintiff's attorney Kelly Dermody. Dermody estimated that about 2,000 of the company's 9,500 financial advisors are women. The lawsuit seeks back pay for female brokers and changes in how the company assigns business opportunities.

Learn more about the Morgan Stanley gender discrimination lawsuit filed by Lieff Cabraser.