"Centerview Partners and former junior banker Kathryn Shiber have reached a settlement, ending a closely watched lawsuit about Wall Street work culture that was set to go to trial in Manhattan federal court. The case centered on allegations that the boutique investment bank violated disability discrimination laws when it fired Shiber in 2020 after she said she needed eight to nine hours of sleep each night because of an underlying mood and anxiety disorder."
"Court filings and depositions in the case offered a rare look into the grueling demands placed on first-year analysts, including testimony that they typically work between 60 and 120 hours a week and that "in some projects, you are working 24 hours a day." Centerview has denied wrongdoing. "Centerview has said all along that Ms. Shiber's legal claims have no merit," a Centerview spokesperson told Business Insider in a statement."
Centerview Partners and former junior banker Kathryn Shiber reached a settlement that ended a lawsuit scheduled for trial in Manhattan federal court. The suit alleged that Centerview violated disability-discrimination laws by firing Shiber in 2020 after she said she required eight to nine hours of sleep nightly for an underlying mood and anxiety disorder. Court filings and depositions described first-year analysts working between 60 and 120 hours per week, with testimony that in some projects analysts work around the clock. Centerview denied wrongdoing, called the claims meritless, and said it was ready to prove that at trial. Settlement terms were not disclosed.
Read at Business Insider
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