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Smith Barney settling case
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October 9, 1997: 6:32 p.m. ET
Agreement reached in sexual harassment suit; details not released
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NEW YORK (CNNfn) - Smith Barney Inc. and a group of female employees who claimed widespread sexual harassment in a lawsuit have reached an agreement "in principle" to settle the case, the company said Thursday.
Lawyers for both sides told a judge in U.S. District Court in New York that they had reached a tentative pact.
Sally Cates, a spokeswoman for the brokerage giant, declined further comment but she said press reports about the accord were accurate.
The agreement followed four days of negotiations with a mediator, San Francisco lawyer David Rotman, the reports said.
Lawyers in the case told U.S. District Judge Constance Baker Motley they hope to present a final proposal on Nov. 18. Both sides are drafting the agreement.
Efforts to reach Mary Stowell, attorney for 26 plaintiffs, were unsuccessful late Thursday.
Smith Barney, a subsidiary of Travelers Group Inc., has denied wrongdoing. The plaintiffs had charged that sexual harassment was an accepted practice at the company.
The employees claimed one Smith Barney branch had a "boom boom room," in the basement where male brokers harassed their female colleagues. 
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