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TRENDING TAGS
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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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Wall Street Layoffs: Job Bias Claims
Job bias claims, to put it mildly, are going through the roof, according the The WSJournal. From November through April of 2010, more than 70,000 people filed claims with the EEOC (Equal Employment Opportunity Commission) saying they had suffered job discrimination. That's 60% higher than the same period a year earlier. Not all of these complainants will sue, but plenty will.
Laid-off workers who can quickly find another job are more apt to move on with their lives and not want to be burdened with the hassle of filing a bias claim, lawyers said. “But employees are having a tougher time getting replacement jobs, and so they are likelier to sue,” said Miami attorney Mark Cheskin.
Older workers or those with a disability have been particularly aggrieved of late, lawyers said, because companies perceive these workers to be relatively costly and unproductive. “In a down economy, companies look to replace older workers with younger workers who they can hire at lower salaries,” said Cliff Palefsky of San Francisco.
In other words, young lawyers, bankruptcy law is so 2009; employment litigation is where it’s at. [WSJ Law Blog, 9/24]

