July 26, 2019 / 11:17 AM / 22 days ago

Lawsuit says Bank of America discriminated against women-led jeweler

Rhode Island jewelry company Alex and Ani has filed a $1.1 billion gender bias lawsuit against Bank of America, accusing it of cutting off a line of credit after a female took over for the jeweler as chief financial officer.

Filed on Thursday in Manhattan federal court, the lawsuit said the bank used a “nonexistent” default as an excuse for cutting off access to a $50 million revolving line of credit the bank had extended in 2016. In reality, the bank was motivated by gender bias against the women-led company, the complaint alleged.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/30VA0K2

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below