Snap Inc. To Pay $15M In Settlement Over Gender Discrimination And Harassment Allegations By California Civil Rights Department
Portfolio Pulse from Benzinga Neuro
Snap Inc. (NYSE:SNAP) has agreed to pay $15 million to settle a lawsuit filed by the California Civil Rights Department over gender discrimination and harassment allegations. The settlement covers female employees who worked at Snapchat in California between 2014 and 2024. The company has committed to maintaining a fair and inclusive work environment and will hire an independent consultant to assess its policies.
June 20, 2024 | 9:02 am
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Snap Inc. has agreed to a $15 million settlement over gender discrimination and harassment allegations. The company will hire an independent consultant to assess its policies. This settlement may impact investor sentiment and short-term stock price.
The $15 million settlement and the allegations of gender discrimination and harassment could negatively impact investor sentiment. Although the company is taking steps to address the issues, the news may lead to short-term stock price volatility.
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IMPORTANCE 80
RELEVANCE 100