Stark Lessons from Wall Street’s #MeToo Moment

Women filed a wave of lawsuits and arbitrations against financial firms in the 1990s and early 2000s, disgusted by a culture of rampant sexual harassment and gender discrimination. The biggest cases of that era collectively drew thousands of participants in class actions and led to large settlements including $150 million against Smith Barney and $250 million against Merrill Lynch.

At a time when the long-term consequences of #MeToo on women’s careers is an open questions, I looked at court records, tracked down plaintiffs and spoke with a dozen employment lawyers to see how things had turned out for the women — and how things had turned out for the men who allegedly harassed them. My findings were sobering. You can read my story today for The Intercept here.

How Wall Street Silences Women

Among the business sectors largely absent from the current deluge of sexual harassment revelations is the financial services industry, a behemoth that employs 3.2 million people in the United States and is infamous for abuse and discrimination targeting women. In my story for The Intercept, I talk about women’s fate in finance and the reasons that most stay quiet. You can read it here.