Equitable to pay $12.5 million in age bias suit.
An Equitable official said that the EEOC assertions were "absolutely untrue" and that the settlement did not contain any findings of illegal conduct by the company. Continuing, the official said that Equitable "has always denied and continues to deny that it violated the law" and that it had settled only to avoid prolonged and costly court proceedings.
Under the settlement, $12.5 million--reportedly a record among for a discrimination case--will be distributed to the plaintiffs according to the financial losses they sustained. In exchange, they agreed to drop their claims against the company.
|Printer friendly Cite/link Email Feedback|
|Publication:||Monthly Labor Review|
|Date:||Mar 1, 1985|
|Previous Article:||Company allowed to reduce wages, 'if necessary.'|
|Next Article:||TWA discriminated against older pilots.|