Law­suit claim­ing Cit­i­group ran 'boys club' dis­missed

The Pak Banker - - FRONT PAGE - NEW YORK - AP

A fed­eral judge in Man­hat­tan dis­missed a law­suit by a fired Cit­i­group Inc fi­nan­cial ad­viser who said the bank's "cul­ture of gen­der dis­crim­i­na­tion" made it clear that "the boys were in charge."

US District Judge Richard Sul­li­van said most of Erin Daly's claims over the al­leged bias and ha­rass­ment she faced in her seven years at the New York- based bank did not be­long in fed­eral court be­cause she had agreed to ar­bi­trate them.

He also said Daly waited too long to ac­cuse Cit­i­group of fir­ing her in re­tal­i­a­tion for re­port­ing her boss's al­leged vi­o­la­tions of rules to pre­vent in­sider trad­ing, by de­mand­ing non­pub­lic de­tails about stock of­fer­ings that he wanted to pass to fa­vored clients.

Michelle Daly, a lawyer for the plain­tiff, had no im­me­di­ate com­ment. Cit­i­group spokes­woman Danielle Romero- Ap­si­los de­clined to com­ment.

The law­suit is one of many over the years ac­cus­ing U. S. banks of fa­vor­ing male bankers, traders and fi­nan­cial ad­vis­ers over their fe­male coun­ter­parts, and per­mit­ting im­proper con­duct.

Erin Daly claimed that Cit­i­group stripped her of client con­tact and re­spon­si­bil­i­ties be­cause of her gen­der, in an ef­fort to re­duce her to a "glo­ri­fied sec­re­tary" be­cause its "boys' club" poli­cies dic­tated that "the men were do­ing busi­ness."

Sul­li­van agreed with Cit­i­group that Daly's whistle­blower claim un­der the fed­eral Sar­banes- Ox­ley gov­er­nance law was stale be­cause Daly brought it two years af­ter her De­cem­ber 2014 dis­missal, miss­ing a 180- day dead­line.

He also said Cit­i­group's hav­ing al­legedly alerted a U. S. bro­ker­age reg­u­la­tor, the U. S. Fi­nan­cial In­dus­try Reg­u­la­tory Au­thor­ity ( FINRA), about short­com­ings in Daly's work did not cre­ate a "con­tin­u­ing vi­o­la­tion" that meant the 180- day limit had not run. The plain­tiff, a res­i­dent of Man­hat­tan's Up­per West Side, had sought dou­ble back pay, un­paid bonuses and puni­tive dam­ages. The case is Daly v. Cit­i­group Inc et al, U. S. District Court, South­ern District of New York, No. 16- 09183.

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