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Oppenheimer to Settle Gender Bias Suit [USA]

Author: Chad Bray, Associated Press, Published on: 12 September 2006

Oppenheimer & Co. Inc. has agreed to pay $85,500 to settle an Equal Employment Opportunity Commission lawsuit alleging discriminatory behavior in its hiring practices, the agency said Tuesday. The EEOC filed a lawsuit in January alleging that Fahnestock & Co. Inc., which is now known as Oppenheimer & Co., denied a job interview to a woman named Jaime Sanders in 2003 for a broker trainee position because of her gender. The EEOC said Oppenheimer, as part of a consent decree filed with the court, will set up a $75,000 scholarship fund for the advancement of women in the financial services industry and to provide $10,500 to Sanders.

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Related companies: Oppenheimer & Co.