Skip to main content

Victory At SAC: EEOC Says, 'Hormones Do Not Sexual Harassment Make'

  • Author:
  • Updated:

CNBC’s Senior Testes-cum-Ovaries Correspondent Charlie Gasparino reports that the Federal Equal Employment Opportunity Commission has closed its investigation of allegations made by a former SAC Capital employee that his superior forced him to take female hormone pills. Junior trader Andrew Tong filed a discrimination lawsuit last year, charging that his boss, Ping Jiang, whose trading philosophy states that men must be more like women, sexually harassed him and made him take estrogen, which supposedly caused strain on Tong's marriage, and led to him wearing dresses. On Monday EEOC stated that after interviewing dozens of SAC employees, all of which claimed to be wearing tube tops and mini skirts "of our own volition," that it would not proceed any further. Though Steve Cohen et al are probably pretty pleased with the decision, we hear that Ping is sort of torn-- on the one hand, he's happy that Tong, whose lawsuit continues, has been stripped of a powerful ally. On the other, having been recently tossed aside by the hedge fund for merely not making them any money this year, he'd loved to see those "sexist pigs" fry. If he has go down with them, so be it.
EEOC Closes SAC Capital Female Sex Hormone Case [CNBC]