The Cost of Failing to Change: Echoes From the ‘Boom-Boom Room’
Investment bank Smith Barney, a division of Citicorp, confirmed last week that it agreed to pay $33 million to about 2,500 current and female brokers to settle a gender discrimination lawsuit. The $33 million is in addition to the $18 million the firm paid to settle a 1997 discrimination lawsuit alleging that female brokers were sexually harassed in the brokerage’s infamous "boom-boom room" ...
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