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Jaffe vs. Morgan Stanley Dean Witter Inc.
Home » General Law » Class Action Lawsuits » Jaffe vs. Morgan Stanley Dean Witter Inc.One of the United States leading brokerage firms is facing a class action lawsuit filed by a former female broker who worked for the company for more than 20 years during the time of 1982 and 2005. The lawsuit now has 5 other plaintiffs involved that all allege the brokerage firm discriminated against female brokers by denying them the same business opportunities as male brokers which in turn led to lower income levels for the female employees. The lawsuit alleges that Morgan Stanley Dean Witter made a policy out of favoring less qualified male brokers and that branch managers also gave female brokers fewer and less valuable new accounts than their male counterparts. This lawsuit is a direct result of the Women on Wall Street Program that was put into place in April of 2004 by the National Council of Woman's Organizations. The lawsuit seeks back pay for the company's more than 2,000 female brokers as well as new policy in how business opportunities are assigned.
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