Novartis Pharmaceuticals Settles Class Action Lawsuit
Novartis Pharmaceuticals settled the class action case against them for $175 million. See report. The case was based on gender discrimination. I discussed this case earlier. See post here and here. You will recall this was the case where a jury came back with a verdict for $250 million in punitive damages for some egregious statements made by many managers over the years.
Apparently, the employer reasoned that the risk of appeal was too great and they should settle their claims. That is probably a wise move. Many times, after a high verdict, it is simply better business to pay an agreed upon amount and report the business loss than to risk the results of an appeal.
