Douglas D. Haynes resigned from his position as President of Point72 Asset Management L.P. (“Point72”) on Friday, March 16, 2018 — about one month after Wigdor LLP filed a gender discrimination lawsuit on behalf of Plaintiff Lauren Bonner. Mr. Haynes is a named Defendant in the lawsuit.
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.
The lawsuit further alleges that Mr. Haynes routinely behaved inappropriately towards female employees at Point72. For example, he openly referred to one former female executive as a “dumb blonde,” left the word “P***Y” written on a whiteboard in his office for several weeks and made one female employee draft a presentation less than 48 hours after giving birth, as alleged in the Complaint.
Mr. Haynes’s departure comes in the wake of the #MeToo movement, a critical juncture that has exposed a growing number of sexual misconduct allegations lodged against powerful men. “The suit was also among the most prominent to accuse a major Wall Street firm of workplace misconduct amid a national reckoning on sexual harassment,” according to The New York Times.
President of Point72 resigns amid gender discrimination lawsuit filed by @WigdorLaw: "The suit was also among the most prominent to accuse a major Wall Street firm of workplace misconduct amid a national reckoning on sexual harassment." – via @nytimes https://t.co/DAXrI7rk0d
— Wigdor Law (@WigdorLaw) March 19, 2018