Judge OKs Citigroup $33 mln gender bias settlement
NEW YORK, April 30 (Reuters) - A federal judge has approved a settlement under which Citigroup Inc (C.N) agreed to pay $33 million to about 2,500 current and former female brokers at its Smith Barney unit to resolve a gender discrimination lawsuit.
Judge Phyllis Hamilton of the U.S. District Court in San Francisco granted preliminary approval to the settlement of the class-action case at a hearing on Wednesday, court records show.
The plaintiffs had accused Smith Barney in the original March 2005 complaint of preventing female brokers from competing fairly for new accounts, promotions and pay and of depriving women of equal training and sales support.
They also accused Smith Barney of using past performance as a means to award business and pay -- putting women who had been discriminated against in the past at a disadvantage.
It is not immediately clear how many of the brokers still work for New York-based Citigroup, the largest U.S. bank.
As part of the settlement, Citigroup had agreed to change some business practices. The bank has denied wrongdoing.
Citigroup and the plaintiffs' lead lawyer were not immediately available for comment. A final hearing on the accord is set for Aug 27, court records show. (Reporting by Jonathan Stempel; Editing by Andre Grenon)
