Client Associates Sue Firms Over Discrimination and Wrongful Termination

Posted on December 3rd, 2024 at 2:30 PM
Client Associates Sue Firms Over Discrimination and Wrongful Termination

From the desk of Jim Eccleston at Eccleston Law

Three former client associates have accused major financial institutions—Charles Schwab, Morgan Stanley, and Ameriprise Financial—of wrongful termination. As reported by AdvisorHub, the claims center on allegations of discrimination and medical leave violations.

For example, one former client associate at Morgan Stanley filed a lawsuit alleging discrimination, harassment, and retaliation based on her national origin, disability, and gender. She alleges that she was required to be in the office daily, while her colleagues had the flexibility to work from home. Additionally, a former employee at Charles Schwab alleges that Schwab wrongfully denied her medical leave, violating both state and federal labor laws.

Finally, a 70-year-old client associate with an independent Ameriprise practice claims she was wrongfully terminated after sustaining an arm injury that required time off. According to her complaint, one of the practice’s co-owners repeatedly referred to her as "Ms. 70" and questioned her retirement plans. All three firms deny the allegations, according to AdvisorHub.

 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next

I cannot thank you enough for your efforts. You have proven to be a valuable resource

Jim T.

LATEST NEWS AND ARTICLES

March 13, 2025
Congress Considers Expanding the Accredited Investor Definition

A recent congressional hearing examined potential reforms to the accredited investor definition, a critical threshold determining who can participate in private market investments.

March 12, 2025
GPB Capital Investors May Receive Some Compensation Under Proposed Distribution Plan

GPB Capital Holdings investors have not received returns on their investments since 2018. According to InvestmentNews, after years of litigation, a court-appointed receiver has submitted a plan to return funds to the 17,000 investors who purchased $1.8 billion in GPB limited partnerships.

March 11, 2025
Former CNBC Analyst Pleads Guilty to $2.7 Million Securities Fraud Scheme

James Arthur McDonald Jr., a former financial advisor and frequent CNBC guest analyst, has agreed to plead guilty to securities fraud, admitting to defrauding investors out of at least $2.7 million, as reported by ThinkAdvisor. The felony charge carries a maximum sentence of 20 years in federal prison.