Pay And Promotion Equity Of Women On Wall Street: Does Litigation Help?

Date
Backup: Executive Summary
by Wendi S. Lazar and Jennifer L. Liu
New York Law Journal
October 15, 2013
Description

Wendi S. Lazar and Jennifer L. Liu, New York Law Journal, October 15, 2013. On September 6, court papers announced that Bank of America had agreed to pay $39 million to settle Calibuso v. Bank of America Corp., a nationwide gender discrimination class action on behalf of female stockbrokers.  No. 10 Civ. 1413, Docket No. 1 (E.D.N.Y. filed Mar. 30, 2010).  In the lawsuit, filed in 2010, the plaintiffs alleged that the bank paid them less than male stockbrokers and gave them fewer opportunities to build their books of business.  While the settlement is a great “win” for the plaintiffs, it raises an important question:  do lawsuits really help remove barriers to women getting ahead on Wall Street? 

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