Morgan Stanley hit with alleged racial discrimination suit
Morgan Stanley has been targeted with a suit from an African-American financial adviser, Kathy Frazier, who accuses the bank of racial discrimination, as well as making changes last month to its internal arbitration policy to prohibit employees from publicly challenging unfair practises. The law firm that is representing Ms Frazier also successfully represented a Bank of America Merrill Lynch  adviser in a similar case in 2013, that resulted in a $160m settlement with Merrill Lynch.

By Beth Winegarner (October 1, 2015, 4:02 PM EDT) -- Morgan Stanley & Co. LLC was hit with a new proposed class action in California federal court on Wednesday accusing it of discriminating against its African-American financial advisers and depriving them of lucrative opportunities — even after multiple settlements aimed at improving Morgan Stanley's diversity....

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