Female Stock Brokers Settle Gender Discrimination Case For $33 Million
Four female stock brokers sued Citigroup Global Markets Inc. alleging gender discrimination. So, Varner, Orlando and Amochaev, all earned less than their male counterparts and had fewer assets to manage and fewer opportunities to earn more income. The females complained to the company's human resources department about the firms discrimination actions.
The four females filed a lawsuit alleging Citi intentionally maintains policies that lock in, perpetuate, and increase gender discrimination in violation of Title VII of the Civil Rights Act of 1964, 42 U.S.C. Section 2000e and California Civil Rights Laws. So also alleged race discrimination under Title VII.
Citi responded that there was no difference in treatment between the male and female employees. The parties settled before trial for $33 million plus interest. Citi also agreed to institute several anti-discrimination policies.