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Smith Barney may settle
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August 19, 1997: 6:54 a.m. ET
A mediator would resolve sexual harrassment claims by employees
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NEW YORK (CNNfn) - Smith Barney Inc. is reportedly close to a settlement on a sexual harassment case filed by 26 current and former employees that has grabbed media headlines for more than a year.
As part of the pact, the securities firm may set up a procedure so women could have sexual harassment claims resolved by a mediator, the Wall Street Journal said.
While nothing is finalized, cash settlements would be made individually. No lump cash settlement is on the table, the newspaper said.
Smith Barney has insisted there was no widespread pattern of discrimination.
But the employees claimed that one Smith Barney branch had a basement "boom boom room," where male brokers harassed their female colleagues. The allegations reinforced the belief that the brokerage industry is still hostile to women. 
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Smith Barney
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