Vanguard Group Pays $300,000 To Settle Racial Discrimination Lawsuit
Vanguard Group settled a racial discrimination lawsuit with the Equal Employment Opportunity Commission ("EEOC") for $300,000. The lawsuit was based on a black prospective employee, Barbara Alexander who was not hired for a financial planning manager position because of her race. Alexander had substantial work experience and was well qualified for the position of financial planning manager. Alexander has an MBA in finance and possessed 14 years of financial management experience. Vanguard passed over Alexander for employment and hired a less qualified white applicant.
In this day and age many companies are sophisticated enough not to come right out and say we aren't hiring you because of your race. Racial discrimination lawsuits are usually proven and settlements obtained through diligent discovery and comparison of other employees. It is imperative to contact an employment attorney who concentrates on discrimination lawsuits.
Acting Regional Attorney Debra Lawrence of the EEOC’s Philadelphia District Office, said, “We commend Vanguard for its willingness to resolve this matter amicably and early in the litigation process."
Other terms of the settlement include a two-year consent decree which prohibits the company from engaging in discrimination or retaliation. The company must also provide anti-discrimination training and post of a notice about the settlement so employees can view it.