September 28, 2018 / 11:13 PM / 10 months ago
Point72 sexism case to be arbitrated, lawsuit is dismissed
FILE PHOTO: Steven A. Cohen, Chairman and CEO of Point72 Asset Management, speaks at the Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2016. REUTERS/Lucy Nicholson/File Photo
NEW YORK (Reuters) - A female vice president at Point72 Asset Management LP will pursue her sexism claims against the hedge fund firm run by billionaire investor Steven A. Cohen before a private arbitrator and has dismissed her federal lawsuit.
In a filing late on Friday in Manhattan federal court, a lawyer for Lauren Bonner said the parties agreed to submit the case "in its entirety" to the arbitrator.
The filing said Bonner is also dismissing a proceeding before the American Arbitration Association.
Bonner, Point72's head of talent analytics, has been seeking damages for what she called the "pervasive" sexism and hostile environment at Stamford, Connecticut-based Point72.
Her allegations included claims that men were often paid two or three times as much as women and would denigrate women's work and physical appearances.
Cohen was not accused of inappropriate behavior.
He and Point72 have denied Bonner's claims and stood by the firm's treatment of women.
Douglas Haynes, Point72's former president, is also a defendant and also agreed to the private arbitration.
Cohen is worth $12.9 billion, according to Forbes magazine.
Reporting by Jonathan Stempel in New York