October 19, 1996 |
Smith Barney Served Amended Lawsuit: The amended suit by current and former female employees expands the sexual discrimination and sexual harassment claims against the brokerage. Twenty women in 10 states, including California, have joined three New York women as plaintiffs in the new suit, filed in U.S. District Court in Manhattan. They allege they were subjected to lewd language, unwelcome touching and employment practices that denied them opportunities and privileges allowed to men.
July 3, 1998 |
Smith Barney Inc. and lawyers for women who sued the New York-based company alleging sex discrimination proposed an amended settlement to the federal judge who rejected their previous agreement. The nation's No. 2 brokerage offered to let the judge, rather than an arbitrator, decide disputes over how money for Smith Barney's affirmative action program for women should be spent.
August 5, 1997 |
A National Assn. of Securities Dealers arbitration panel ordered Smith Barney Inc. to pay $1.325 million to a former broker that it dismissed because of a disability. It's the third time in two weeks that the brokerage, a unit of New York-based Travelers Group Inc., has been forced to pay to resolve charges of wrongdoing. Michael Wright of Fort Lauderdale, Fla.
November 19, 1997 |
To settle a discrimination lawsuit filed by female workers, Smith Barney Inc. has agreed to resolve future sex-discrimination complaints through an outside mediator, establish an unlimited fund to pay winning claims and set hiring quotas. "This is the most expansive diversity program that we will see in corporate America," plaintiff attorney Linda Friedman said at a hearing in federal court in New York.
August 30, 1996 |
Donna Manwarren, a high school graduate, considers herself a homemaker, not a sophisticated investor. A stack of blue-chip stocks she inherited from her great-aunt 20 years ago sat in a bank safety deposit box for 18 years, growing in value to nearly $1 million and generating $40,000 a year in income, said her lawyer, William R. Hart of Santa Ana.
May 2, 1995 |
Smith Barney Inc., which has struggled to expand its securities and investment banking empire overseas, is reportedly holding talks with London-based S.G. Warburg Group about a possible merger. The largest British investment bank has been the subject of takeover speculation since late December, when a planned merger with New York-based Morgan Stanley & Co. collapsed amid a dispute about the value of Warburg's investment management company, Mercury Asset Management.