Wells Fargo Advisors in another state recently agreed to settle a legal suit alleging that the company discriminated against several advisors. The African-American advisors reportedly endured race discrimination. When employees in Texas are mistreated on the basis of race, they have the right to take legal action.
In the recent out-of-state case, Wells Fargo agreed to pay a total of $35.5 million as part of the settlement of the lawsuit filed by the African-American advisors. The company also has to make several changes to its training and recruitment processes. Changes additionally must be made to its leadership and teaming practices in order to increase its diversity as well as improve African-American advisors' opportunities.
The lawsuit was filed by one advisor in 2013 who claimed that he and other advisors/trainees who were African American were being deprived of business opportunities due to race. They were also allegedly excluded from the company's most favorable teams because they were African American. An amendment of the lawsuit took place in 2014 so that it could also include other complaints of discrimination against the company.
When people in Texas and elsewhere are not treated fairly in the workplace because of their race, it is within their rights to file discrimination complaints against their employers, seeking damages. An understanding of what facts must be proved will most likely be essential for prevailing in this type of case. Remedies in a successfully litigated case may include the coverage of any out-of-pocket legal expenses as well as compensation for emotional harm.
Source: wealthmanagement.com, "Wells Fargo Advisors Settles Race Discrimination Case for $35.5 Million", Ryan Neal, Jan. 5, 2017