Citigroup To Pay $33M To Settle Sex Bias Suit

Law360, New York (April 4, 2008, 12:00 AM EDT) -- Citigroup Inc. has agreed to pay a group of about 2,500 female former financial advisers in the company’s Smith Barney unit $33 million to settle a long-running sex bias suit.

According to documents filed Wednesday in the U.S. District Court for the Northern District of California, the proposed settlement will certify a national, as well as a California-based, class of women, whose members will be eligible to make claims from the settlement fund.

Additionally, under the terms of the settlement, Citigroup agreed to make changes to...
To view the full article, register now.