Citigroup Smith Barney Lawsuit
Settle Gender Class Action for $33 Million
Citigroup Smith Barney Settle Gender Class Action for $33 Million
Professional women across America won a major employment victory today when a federal court ruled that they had been discriminated against by the investment house that employed them, and awarded the women groundbreaking financial compensation in a sweeping settlement.A federal court has granted final approval of a settlement of over $33 million with Citigroup Global Markets, Inc. d/b/a Smith Barney, on behalf of all women employed as Financial Advisors in (i) the United States branches of Smith Barney's retail brokerage division at any time from August 24, 2003 through March 1, 2008 or (ii) the California branches of Smith Barney's retail brokerage division at any time from June 25, 2003 through March 1, 2008. Plaintiffs alleged that Smith Barney discriminated against female Financial Advisors in compensation and business opportunities.
AUG-13-08: Court Grants Final Approval of $33 Million Gender Class Action Settlement [MARKET WATCH: $33 MILLION SETTLEMENT IN GENDER CLASS ACTION ]
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