Fast-rising executive search firm CTPartners is fighting back against a sexual discrimination complaint that moved its stock down by as much as 24 percent.
"CTPartners takes all allegations of discrimination very seriously," the firm said in a statement. "As soon as the firm was informed of concerns by an employee earlier this year, the chief operating officer undertook a comprehensive investigation, along with external counsel. Based on that investigation, the company believes that the claim does not have merit."
The response came after a New York Post story early Monday described the firm—according to a confidential complaint it said was filed by former employees—as "a den of discrimination where women are stripped of profitable accounts, held to a higher standard than their male colleagues and subjected to lewd behavior, including a booze-fueled naked romp held by a top partner."
The stock dropped nearly 25 percent Monday before recovering slightly Tuesday. It's now down about 17.6 percent this week but is still up 172 percent for the year.