Morgan Stanley Lawsuit Highlights Pitfalls of Emailed Employee Contracts
Litigation pitting Morgan Stanley against one of its former sales assistants could have implications for its employees and those of other wirehouses, warns Financial Advisor IQ.
Miriam Rozen explains:
“That will be particularly true if the wirehouse employees receive — but don’t always read — emails sent by their employers to set employment conditions.
“The wirehouse contends that if they’ve sent you an emailed contract, you’ve essentially agreed to the contract just by continuing to work.”
A lower court had ruled that an employment-arbitration agreement between Morgan Stanley and the employee was enforceable, even though the former sales assistant claimed she never read a 2015 email that the wirehouse sent notifying her she would be entered into such a contract.