Wigdor LLP is committed to fighting against sexual harassment, unequal pay and overall gender discrimination in the financial services industry. On Thursday, May 3, 2018, two leading national media outlets published articles highlighting the Firm’s work in connection with allegations of sexual harassment and gender discrimination against some of the world’s largest and most well-known financial and accounting institutions.
The New Yorker published an article detailing allegations of gender discrimination and unequal pay in a lawsuit filed by Wigdor LLP on behalf of Lauren Bonner against Point72 Asset Management, L.P. (“Point72”), a hedge fund founded by billionaire Steven A. Cohen, whose former firm, S.A.C. Capital Advisors, was disbanded following a years-long government investigation into insider trading at the firm.
The lawsuit alleges that female employees at Point72 were subjected to a hostile and discriminatory “boys’ club” atmosphere where Ms. Bonner and other women were routinely passed over for promotions, paid far less than their male counterparts, subjected to blatant sexist and sexual remarks, and retaliated against if they dared to report gender bias.
In The New Yorker article, Ms. Bonner explains why filing a lawsuit was her “last option” in trying to obtain a salary that was commensurate with those of her male peers at Point72. Ms. Bonner also shares why she believes more women in finance haven’t filed gender discrimination cases against Wall Street companies:
“More women haven’t come out because it is as bad as it is. That’s why. It’s a small club, and it’s an all-boys club, and people are terrified of not getting another job…When you’re paid less than someone who’s doing the exact same job, and probably at the same performance level as well, women start to develop a sense of, ‘I’m lucky to have this job. If I’m not paid as much, God, I’m lucky to even be here.’”