Morgan Stanley settles race bias suit for $16 million - MarketWatch

“Morgan Stanley has agreed to settle a bias suit filed by African-American and Latino brokers in northern California for $16 million.
As part of the proposed settlement, the New York retail brokerage firm agreed to institute programs to improve employee diversity.

In a document filed late Monday at the U.S. District Court at the Northern District of California, Morgan Stanley has agreed to set up a $16 million settlement fund for about 1,000 claimants in the class action suit.”*

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