Wall Street buzzes over settlement in bizarre lawsuit

Article Abstract:

Morgan Stanley Dean Witter has made an out-of-court settlement of a racial discrimination lawsuit that African-American real estate analyst Christian Curry filed against it. The blue-chip brokerage company fired Curry in 1999 for expense account abuse. Curry claimed that he was fired because he was black and for perceived sexual orientation. Morgan is expected to announce the end of the $1.78 billion suit in exchange for a $1 million donation that it is making to civil rights group National Urban League.

Securities Brokerage, Stock Brokerage

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Morgan Stanley lawsuits stack up

Article Abstract:

Morgan Stanley Dean Witter has been notified on Aug 18, 1999, that it could face a class-action suit for alleged racial discrimination against its black employees. The warning was sent by the lawyer of Christian Curry, an African-American real estate analyst who was fired by the financial services company last summer. Also on the same day, Curry filed an illegal dismissal lawsuit against his former company, claiming compensatory and punitive damages of $85 million.

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Few believe $1.4B deal will change Wall St.

Article Abstract:

The U.S. Securities and Exchange Commission will impose a $1.4 billion penalty on ten major investment banks as part of settlement package. The record fines, which are designed to support fundamental reform in the investment banking industry, were imposed on Goldman Sachs and other banks.

Investment Banking and Securities Dealing, Investment Banking, Security brokers and dealers, Legal/Government Regulation, Company legal issue, Cases, Financial services industry, Investment banks, Goldman Sachs and Co., United States. Securities and Exchange Commission

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