Wall Street is one of the most ruthless and hard-headed places in the world. Not surprisingly, these characteristics are needed in order to survive working in this financial sector as people tend to always be out to get you while you’re there. Recently, there’s been an uproar in legal battles that have taken place in Wall Street, especially with regard to management cruelty and sexual harassment.
One of the most notable lawsuits of Wall Street history deals with management cruelty and how a hedge-fund manager tried to revoke two of his employee’s rights of their yearly bonuses. In a court battle that lasted over a decade, these two ex-employees of Paul Touradji, the founder of Touradji Capital Management, decided to put their old boss on blast and make him pay up for his actions. While Touradji originally owed them roughly $43 million dollars in bonuses, he recently was court ordered to pay up to $90 million dollars to make up for 10 years without their well deserved cash.
Unfortunately, there are also a lot of legal battles dealing with sexual harassment in Wall Street. In a work setting that’s predominantly run be men, being a woman in this workplace can seem daunting. While a lot of women settle and decide not to go to court for their own personal and justifiable reasons, some women do file lawsuits and fight for their own justice. For example, Sara Tirshwell - an experienced investor - filed a sexual harassment suit against major asset management firm, TCW. She claimed that after refusing to have sex with her employer, he completely cut her off and refused to allow her any advancement in her career. She ended up filing a sexual harassment case at work and was subsequently fired. That’s when she decided to sue and take action!