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  • Citigroup Inc. (NYSE:C) - Thursday - Hot News and Stock Analysis

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    Thursday Oct. 14, 2010 at 09:20 am EST
    Citigroup Inc. (NYSE:C) Faces a Lawsuit from Women 
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    Citigroup Inc is accused for gender bias. A lawsuit was filed by six women alleging that the bank works like "boys club" where women professionals are not given equality in pay, promotions and assignments. The lawsuit was filed on Wednesday in Manhattan federal court. This lawsuit is the latest in history of allegations of gender discrimination in financial services industry, which includes one filed against Goldman Sachs Group Inc. Citigroup said that 13 top posts were occupied by women, including the chief executive officer of Citi Financial North America to the head of North America markets to general counsel of consumer banking.

    The 5 women were among the many laid off in November 2008. The sixth women still works in Citigroup, who is subjected to comments she considered offensive to women and was demoted after returning to job from maternity leave. The lawsuit said that Citigroup's Senior Leadership Committee has higher ratio of men - 39:19 men:women - and all 19 members of the Executive Committee are men. The lawsuit also said that "Given this disparity in the most senior level positions, it is not surprising to find that the 'boys club' filters down through the management ranks to affect all senior and junior level professional positions.". 

    Shares of Citigroup Inc. closed at $4.25 on Wednesday at resistance level of $4.21. The resistance levels above are at $4.41 and $4.98. The support levels below are at $4.08 $3.96, $3.72. Earlier this week Citigroup Inc.  Offered a New Deal to Lehman Bondholders . Treasury also said that they made profit by selling Citi shares. Earnings announcement for Citigroup Inc. (NYSE:C)  is Scheduled on Oct. 18, 2010.

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