Executive, Now 84, Sues Morgan Stanley for Age Discrimination

LOS ANGELES (CNS) - An 84-year-old man is suing Morgan Stanley Smith Barney LLC, alleging he was forced to resign from his executive position in 2023 due to his frustration with hearing negative management comments about his age and health problems and out of fear he could lose his licenses.

Burke William Francis' Los Angeles Superior Court lawsuit also alleges, wrongful termination, whistleblower retaliation, failure to provide accommodations and engage in the interactive process, negligent hiring, supervision and retention, failure to prevent discrimination, harassment or retaliation and intentional infliction of emotional distress.

Francis seeks unspecified compensatory and punitive damages. A Morgan Stanley representative did not immediately reply to a request for comment on the suit brought Thursday.

"Though Francis continually expressed his desire, willingness and ability to continue working, the increasing comments about his age throughout the remainder of his employment caused him to feel obsolete and as if Morgan Stanley was trying to push him out due to his age and disabilities," the suit states.

Francis was hired in June 1966 by a predecessor firm to Morgan Stanley who later brought in billions of dollars to the company and later rose to be a senior vice president, according to the suit, which further states that in later years he was afflicted with cataracts, a disabled left hand as well as cardiovascular and bladder disabilities that did not interfere with his ability to do his job.

In May 2018, Morgan Stanley's human resources department asked Francis about a temporary restraining order his now-former wife filed against him, demanding all of the documents related to the legal action and that he be fingerprinted by the company's corporate security vendor, the suit states.

Two of Francis' supervisors began to be more cool toward him and contacted him many times to discuss his age and recommend retirement, according to the suit, which further states that managers made comments that the plaintiff was "getting older," "cannot work forever" and is  "going to retire soon."

In March 2020, a supervisor issued Francis a warning about his job performance, saying his work "did not rise to a level that constantly meets management's expectations for someone in your role." according to the suit, which further states that the boss used minor incidents to justify his comments, but nonetheless warned the plaintiff could be fired if he did not improve.

The supervisor also told Francis that his verbal interactions with clients and co-workers were "unprofessional," the suit states.

Although Francis signed a performance warning, he did so while writing below his signature that he was "under duress," according to the suit.

Francis' heart problems worsened and in March 2021 doctors installed a pacemaker, the suit states. Bladder problems forced him to use a catheter and bladder bag, the suit states.

That same year, Francis warned management of investment products having poor performances and the potential effects on customers, but his concerns went unheeded and many investors later complained about the same products, the suit states.

Francis, then 83, resigned last September in order to avoid further discrimination, harassment and retaliation as well as to preserve his ability to make a living by retaining his licenses, according to the suit, which also states that the plaintiff has experienced lost income and benefits and also suffered emotional distress and humiliation.