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Aug 29 - A white former Morgan Stanley & Co managing director filed a lawsuit on Tuesday claiming he was fired to make way for a less-qualified Black woman as the investment bank sought to diversify its senior ranks.
Meyersburg said he supported those initiatives during the three years that he served as managing director and head of executive services, but earlier this year was replaced in that role by the head of Morgan Stanley's financial wellness team. The ruling does not apply directly to employers, but opponents of corporate diversity policies have already seized on the decision to support their arguments.
Last year, conservative nonprofit America First Legal filed a complaint against Morgan Stanley with the U.S. Equal Employment Opportunity Commission claiming a training and apprenticeship program for Black, Hispanic, Native American and LGBTQ college students violated the federal law banning workplace discrimination.
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