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...
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