Attorneys at Stoltmann Law Offices are investigating sexual harassment claims against brokerage firms such as Merrill Lynch. Lawsuits have been filed against the bank previously, alleging sexual harassment and other misconduct by employees. According to the New York Times in April of 2004, a panel of arbitrators awarded $2.2 million to a women who claimed that Merrill Lynch discriminated against women while they were employed by the bank as stockbrokers. That was the first legal ruling to find that a Wall Street firm had engaged in systematic discrimination. Merrill had already paid more than $100 million in settlements with hundreds of other women who joined a class-action case against the firm in the late 1990s. Smith Barney, a unit of Citigroup, previously went through its own process to resolve mass claims of sex discrimination that were filed at that time. Women at those firms contended that they continued to favor men and pay them more. In 1997, eight women who worked at Merrill alleged that they had been denied promotions and opportunities to succeed that were routinely offered to their male co-workers. Some alleged that they had been subjected to sexual harassment in a hostile work environment. The class included 2,800 women, more than 900 of whom brought claims.
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