Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.
Benefits July 22, 2005
Merrill Lynch Ordered to Rehire Sexual Discrimination Victim
July 22, 2005 (PLANSPONSOR.com) - An arbitration
panel has ruled that Merrill Lynch & Co. must rehire
Hydie Sumner, who won a gender discrimination suit against it
in 2004, and pay her $303,000 in lost wages, Reuters
reports.
Reported by Rebecca Moore
Merrill Lynch is considering an appeal of the ruling, but said in a statement that the company has decided to pay the $303,000 and settle the pay dispute.
According to Reuters, Sumner claimed she had been subjected to repeated sexual harassment from men in the company’s San Antonio office, and was discriminated against with respect to promotion and salary. In April 2004, Sumner was awarded $2.2 million.
Merrill Lynch called the offensive behavior inexcusable and said, “That chapter does not reflect today’s Merrill Lynch,” according to Reuters.
You Might Also Like:
Insurers Continue Effort for Retirement Security Rule Injunction
Nine insurance industry organizations and representatives have responded to the DOL’s rebuttal of the groups’ litigation against the rule as...
PBGC Closer to Receiving Pension Plan Restitution Payments
Following a federal court order in Pennsylvania, the Pension Benefit Guaranty Corporation is nearer to forcing a bankrupt construction company...
Benefits |
Increased Litigation Around PRTs Brings Insurance Industry Practices to Light
As defined benefit plan sponsors look to de-risk and offload pension liabilities, the selection of annuity providers has come under...