Steven A. Cohen’s Point72 Asset Management recently reached a settlement with a female employee who sued the firm in 2018 alleging unfair pay practices and a pervasively sexist work environment.
The suit had been filed in federal court in Manhattan, which granted Point72’s motion to move the case into arbitration. Arbitration began in April 2019.
Lauren Bonner, whose title is “head of talent analytics” at Point72, according to her LinkedIn profile, accused the firm of paying her as much as two-thirds less than her male counterparts. She also alleged daily offenses from executives at the firm, naming the firm, Mr. Cohen and Point72’s then-president Douglas Haynes as defendants.
“Lauren Bonner and Point72 have resolved the claims amicably prior to a decision being issued,” arbitrator Martin Scheinman said Thursday. Terms of the settlement couldn’t be learned.
At the time of the lawsuit, a spokesman for Point72 and Mr. Cohen said in a statement: “The firm emphatically denies these allegations and will defend itself in a more appropriate venue than the media. We stand by our record of hiring and developing women.” Mr. Haynes didn’t respond to a request for comment at the time.