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She Gave Brokerage Her All

Newsday, Patricia Hurtado (Staff Writer)

Allison Schieffelin, the woman who took on the nation’s second-largest securities firm, “is brilliant, has a great sense of humor, and is just strong,” her sister, Julie Shemitz, said last night.

“This whole thing has been a tremendous strain on her emotionally, financially, and in every way you can think of. But she has been so strong, so persistent, and so solid she has just stuck with it.”

After the settlement was announced in court, Schieffelin hugged her parents and spoke only briefly, saying the settlement was “good for everybody.”

Schieffelins’s attorney Wayne Outten said she would love to talk more, “nothing would please her more, but she can’t” because of the terms of the settlement …

Outten described Schieffelin as extremely interested in and proficient at golf – practically an essential business skill for someone committed to advancing on Wall Street. Her case against Morgan Stanley includes charges that she was frozen out of some golf gatherings for Morgan Stanley clients.