Smith Barney Harassment Settlement Opposed by Plaintiffs, NY NOW Chapters

The settlement reached in the class-action sexual harassment case, Martens v. Smith Barney, has been deemed “unconscionable” by lead plaintiffs Pam Martens, Judith Mione, and the New York City and New York State chapters of NOW. A statement by the plaintiffs declared that the settlement is “yet another dirty deal from Wall St.”

Under the settlement, only the 23 named plaintiffs will receive financial compensation, dividing about 1.9 million among them. The attorneys are expected to receive as much as $12.9 million. The remaining 20,000 class members will not receive any money from this settlement, and class members will be barred from taking any existing claim of sexual discrimination, harassment, or retaliation to court, whether as an individual or through another class action lawsuit.

A federal judge will review the settlement during a “fairness hearing” on April 9th.


Travelers Advisory - March 20, 1998

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