From The Guardian, December 18, 2002
- Salomon Smith Barney has been ordered to pay almost $3.2 million to a female stockbroker in a sex discrimination complaint arisin from the infamous "boom boom room" case that rocked Wall Street in the 1990s.
In her complaint, Keyes described a sexually hostile office environment. She alleged that male colleagues had used sex-related insults, arranged for female strippers in the office, played pornographic videos in the sales manager's office, engaged in simulated phone sex on the speaker phone during work hours, and directed lewd comments at her.
... The "boom boom room" referred to a basement at a brokerage in Garden City, NY, where male staff allegedly intimidated female colleagues. ... became the focus of a notorious '97 case ... and led to 1,920 lawsuits against the brokerage, including Ms Keyes.
... arbitration panel ordered Salomon, now owned by Citigroup, to pay $1.5 million in compensatory damages, $1.5 million in punitive damages, and $150,000 for emotional distress.
The panel said the workplace had been "permeated with discriminatory intimidation, ridicule and insult."