Point72 settles bias claims in gender discrimination case
Steve Cohen’s Point72 Asset Management has settled a dispute with a worker who claimed the firm discriminated against female employees.
Arbitrator Martin Scheinman on Thursday confirmed that the case has been resolved and provided a statement from the parties indicating that they had settled the claims amicably before a decision was issued.
Lauren Bonner, an associate director who runs the firm’s talent-analytics team, sued Point72 in February 2018, alleging the company hired and promoted fewer women than men, paid her less than male counterparts with equal or fewer responsibilities and had only one woman portfolio manager and only one female managing director. The suit was dropped by mutual agreement to allow the matter to be decided by a private arbitrator.
“There were no adverse findings against Steve or P72,” a Point72 spokeswoman said in a statement, adding that the matter was resolved to the parties’ “mutual satisfaction.”
Bonner couldn’t be immediately reached for comment.
The case is Bonner v. Point72 Asset Management, 18-cv-1233, U.S. District Court, Southern District of New York (Manhattan).