A class action lawsuit was filed against the brokerage firm for allegedly failing to pay overtime to its brokers and financial advisor trainees. The lawsuit also claimed Morgan Stanley made improper salary deductions from more than 4,000 current and former employees in the state of California. Morgan Stanley has agreed to pay a $42.5 million class action settlement for unpaid overtime wages of California brokers. (Mar-03-06)
[MARKET WATCH]
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