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(Reuters) — The U.S. government filed a lawsuit against JPMorgan Chase & Co. claiming the bank engaged in pay discrimination against women.
The Labor Department, in a complaint filed with an administrative judge, said New York-based JPMorgan has paid at least 93 women in four different job categories less than comparable male co-workers over the last five years.
The company violated an executive order prohibiting federal contractors from engaging in sex discrimination, the department said. JPMorgan has dozens of contracts with various federal agencies, according to the U.S. General Services Administration.
A representative for the company did not immediately respond to a request for comment.
The department is seeking back pay and salary adjustments for the women. The agency also said JPMorgan failed to conduct required analyses of its workforce to determine if there were pay gaps based on sex, race and other factors.
(Reuters) — Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley need not forfeit their estimated $100 million of profit from trading Facebook Inc. stock soon after underwriting its May 2012 initial public offering, a federal appeals court said on Thursday.