JP Morgan Chase tried to reach a settlement with an ex-investment banker before he filed a lawsuit recently, making s*xual assault and harassment claims, a bank spokesperson mentioned on Wednesday.
The biggest US bank offered $1 million to settle the allegations, the Wall Street Journal reported on Wednesday, citing people familiar with the matter, adding that the former banker rejected it and asked for more funds.
The plaintiff, who in the lawsuit has the placeholder name John Doe, sued JPMorgan last week. They alleged that he was subjected to sexual assault and racial harassment at the bank.
The lawsuit was refiled on Monday in New York state court after being taken down in the past. A lawyer for John Dow didn't reply to any requests for comment.
"While we can't comment on anything confidential, we did try to reach an agreement to avoid the time and expense of litigation and to show support to the employee who was receiving threats.