A federal judge has shot down Morgan Stanley's attempt to dismiss a case brought by two former employees seeking $20 million in damages who alleged that they were terminated after calling attention to extensive misconduct at the firm.
The case turns on a series of allegations from Jaime Feldman-Boland and James Boland, a married couple who say that they were fired after reporting a series of improper practices including unlicensed employees executing trades and promising customers unrealistic returns on risky mutual funds, among others. The couple allege that Morgan’s firing violated the whistleblower protections granted under the Sarbanes-Oxley Act and the Dodd-Frank Act.
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