Dresdner Kleinwort: Now With 6% Less Sexism (Note: Figures are estimates. Actual reduction of sexism undisclosed.)

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Dresdner Kleinwort is no longer facing a class action lawsuit from six women who alleged the bank was discriminating against women. This morning the news broke that the bank had “read an out of court settlement” with the women. The terms are undisclosed so all we have is a vague outline—the bank didn’t admit to any wrongdoing, but the women are satisfied. We’re going to check with our brother blogger David Lat at AboveTheLaw, but we’re pretty sure that in this case satisfied is a technical legal term meaning “they got a bunch of money.”
Dresdner Kleinwort says U.S. anti-discrimination lawsuit is settled [Market Watch]


Bonus Watch '12: Now With Less Cash

According to "revenue compensation trends," though good vibes and happy thoughts could prove them wrong. Wall Street’s cash bonus pool is likely to fall for a second straight year as the financial industry grapples with market turmoil, economic weakness and new rules, New York state Comptroller Thomas DiNapoli said. Revenue and compensation trends have “edged downward” since February, when DiNapoli estimated that the 2011 pool for Wall Street declined by 13.5 percent to $19.7 billion, the comptroller said today in a report. “Based on those trends, the total cash bonus pool for work performed in 2012 is likely to decline for a second year in a row,” DiNapoli said in a statement. The last time the pool shrank for two consecutive years was in 2007 and 2008, at the beginning of the global financial crisis, according to the comptroller’s office. Wall Street Bonus Pool Seen Shrinking for Second Straight Year [Bloomberg]