The U.S. Equal Employment
Opportunity Commission (EEOC) announced a $300,000 litigation
settlement with Vanguard Group, Inc. on behalf of a qualified black
applicant who the federal agency says was refused hire for a financial
planning manager position because of her race, despite substantial work
experience. Malvern, Pa.-based Vanguard Group, one of the world’s
largest investment management companies, will also furnish significant
equitable relief as part of the EEOC consent decree resolving the case.
The EEOC charged in the lawsuit that Barbara Alexander was well
qualified for the position of financial planning manager she applied
for at Vanguard’s Charlotte, N.C., office, but was rejected for hire
based on her race. Alexander possessed 14 years of financial management
experience and held an MBA degree in finance, yet Vanguard instead
hired a less qualified white applicant.
In addition to the $300,000 in monetary relief for Alexander, the
two-year consent decree with Vanguard includes injunctive relief
prohibiting the company from engaging in discrimination or retaliation,
anti-discrimination training, and the posting of a notice about the
settlement. Vanguard did not admit liability in the consent decree
resolving the case. The EEOC filed the suit under Title VII of the
Civil Rights Act in U.S. District Court for the Eastern District of
Pennsylvania (Civil Action No. 09-CV-04424).
Acting Regional Attorney Debra Lawrence of the EEOC’s Philadelphia
District Office, said, “We commend Vanguard for its willingness to
resolve this matter amicably and early in the litigation process. The
additional training for company managers and supervisors provided by
the consent decree should benefit all employees at the company’s
Malvern facility.”