From what's been reported, they paid for the legal activities out of their own pocket.
I've never been a fan of strip clubs (I've got many better ways to waste money, such as cars and alcohol), but I have friends and clients who are addicted to them, for whatever reason.
What they did was legal and they paid out of their own pocket.
Unless there was a specific company policy dis-allowing this behavior on personal time I'd sue MWD asses off.
Scr*w Political correctness.
"From what's been reported, they paid for the legal activities out of their own pocket."
They entertained clients which means they were representing the company. It doesn't matter that they did it on their own time and paid for it. In fact paying for it could be construed as a bribe. If you are on 'legitimate' company business the company picks up the bill. They paid themselves to cover their tracks because they knew Morgan Stanley would pull them on the carpet for it.
If a women did the same thing it would be considered enticement.