A gender discrimination lawsuit has been filed against Osaic by one of the company’s former senior recruiters, according to a report by Advisor Hub.
The suit was brought by Genevieve Sisco, former senior vice president of recruiting at Osaic’s subsidiary broker-dealer SagePoint Financial. In a complaint filed last month in federal court in Iowa, she alleges that the firm paid her tens of thousands of dollars less than her male counterparts.
Sisco is also suing for retaliation, claiming she was fired by Osaic in April 2022 after she testified in an internal probe into misconduct by the former CEO of SagePoint. She alleges she was terminated even though she had a history of positive performance evaluations and had met her goals for 2021.
The lawsuit cites her track record during her 14 years with the company, saying “Sisco and her team consistently identified qualified candidates, including successfully leading recruiting efforts during multiple transitions in company ownership. Unfortunately, the company did not reward Sisco’s success as it would have if she were a man.”
According to the allegations, Sisco earned $125,000 in 2019 at the same time male executive recruiters at her level at smaller companies were earning up to $200,000. Osaic was accused of violating the Equal Pay Act as well as federal and state civil rights laws. In her suit, Sisco is seeking unspecified damages and back pay.
Osaic said it categorically rejected the lawsuit’s allegations as untrue, according to a company spokesperson, who said her claims were thoroughly investigated and found to be without merit. The firm said it would “vigorously contest” the lawsuit, adding that it had an established record of promoting gender diversity.
The lawyers at Hyman Cotter PC have extensive experience representing companies both large and small, as well as employees, directors, officers and shareholders, in complex commercial litigation matters pending in federal and state courts nationwide and in arbitrations before various dispute resolution forums. Our attorneys have over 55 years of collective experience litigating matters. Please contact us at 312-291-4600 for more information about our securities and commercial litigation practice.
