- M. Stanley Looks to Sell China Investment Bank Stake
- Fed's Bullard: Tighten Only When Recovery's 'Solid'
- Ida Downgraded to Category 1 Hurricane
- Kraft to Formalize Hostile Cadbury Bid on Monday
- GE, Comcast Agree on NBC Universal Valuation
- Hottest Zip Codes for Home Prices
- US Home Values Follow Sales Higher, For Some
- China Urges US to Control Deficit to Stabilize Dollar
- US Health Care Reforms Face Tough Path in Senate
- Tamminen: Why Does Oklahoma Want To Drown New York?
- Food Network, HGTV Drive Scripps Networks' Upside Surprise
- Tommy Lee, Medical Tourism and Nasty Santa, Your Emails
- U.S. Markets Gain 3% for the Week Despite 10.2% Unemployment
- Disney's 'Carol' Tests Widest 3-D Release Ever
- Stimulus II? Jobs Tax Credit=Cash For Clunkers
- Rockwell Automation Earnings: What Options Are Saying
- Gold Will Touch Higher Lows and Higher Highs: Analyst
- Is Misery Alive And Well in Your Office?
MOST SHARED
- Sweeping Health Care Overhaul Bill Passes House
- US Becomes Top Country Brand Under Obama: Survey
- BofA Board in Civil War Over Lewis' Succesor
- Framed for Porn – By a PC Virus
- Kraft to Formalize Hostile Cadbury Bid on Monday
- What Stocks to Buy Amid Health Care Overhaul: Strategist
- Obama Delays Start of Asia Trip to Attend Memorial
- GE, Comcast Agree on NBC Universal Valuation
Text Size 
The Federal Equal Employment Opportunity Commission has decided to close its investigation into charges made by a former junior trader at SAC Capital alleging that his supervisor had sexually assaulted him and forced him to take female hormones.
The charges were filed in a discrimination lawsuit by former SAC trader Andrew Tong against his supervisor, former star trader Ping Jiang and SAC Capital, the big hedge fund. They included allegations that Jiang, who has since left the firm, sexually assaulted Tong and forced him to take female hormones which led to Tong wearing women’s clothing.
But on Monday, the EEOC alerted Tong through a "dismissal and notice of rights" that it was "unable to conclude that the information obtained establishes violations of the statutes." The notice said that "it does not certify that the respondent (SAC) is in compliance with the (equal opportunity) statues. No finding is made as to any other issues that might be construed as having been raised by this charge."
Still, the notice is a victory for SAC and Jiang; both had steadfastly denied all the charges made by Tong, which were first filed in a lawsuit seeking damages over alleged sexual harassment. That lawsuit continues, but Tong is now without a powerful ally in the form of the EEOC.
The commission investigated the charges, interviewing dozens of SAC employees, to determine if it might join the case. The notice signals it will not.
The EEOC doesn’t join most of the cases that it investigates, only those that it believes prove a broader type of discrimination as it did when it joined a case filed by a former Morgan Stanley trader who alleged widespread discrimination at the firm and won a multi-million dollar verdict.
Print
Email
- Rumors abound that Oprah will leave her show to start a new network. What would this mean for daytime TV?
- A private equity specialist sponsored a stand-up comedy troupe in New York to prove that CEOs can, in fact, be funny.
- Cramer did the research and found eight stocks that lead the pack. Read on to get his top picks.
- Did Hideki Matsui’s performance make it more likely that the Yankees will pay to have him back?
- Which wines should you bring—or serve—with holiday meals this year? Ask a connoisseur.
- Two competitors in this year’s World Series of Poker in Las Vegas have stories fit for Hollywood.
Data is a real-time snapshot *Data is delayed at least 15 minutes