UBS, Europe's largest bank, was ordered to pay more than $29 million in damages over a sex discrimination lawsuit. The suit was brought by a top-ranked executive who alleged that the bank mistreated her because she was a woman and then fired her after she complained to the Equal Employment Opportunity Commission. This case follows several other sexual discrimination suits brought against Wall Street firms by female executives. UBS plans to appeal the verdict.
See "UBS Ordered to Pay29 Million in Sex Bias Lawsuit", Eduardo Porter, The New York Times, April 6, 2005