UBS Sued for Systemic Race Discrimination

Three African-American plaintiffs have filed suit in U District Court in Manhattan alleging the brokerage UBS of racial discrimination in its hiring and promotions. The lawsuit, which seeks class-action status, saying that segregation and discrimination in job assignments and compensation were widespread at the brokerage.According to the lawsuit, UBS as of March 2002 had a workforce of 8,615 brokers but only 1.2 percent were black. The number of non-broker officers stood at 1,728, only 3.1 percent of which were black, the lawsuit alleged.The lawsuit said the attitude "illegally resulted in the creation of two racially segregated offices in New York and Maryland" when the company opened a branch office in Flushing, Queens in 1998 to serve an Asian population and in 2000 opened a branch in large, MD., to serve a black population. The company's management frequently ridiculed the large branch office and its staff, referring to it as a "diversity" office, the lawsuit said.

Here is the AP Story from the Boston Globe and Law.com.

And here is a copy of the Complaint.Sexual Harassment, Pregnancy Discrimination, Age Discrimination, San Antonio, Employment Lawyer