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Lawsuits/Arbitrations

Siebert Firm Now ‘Rowdy’ Locker Room - Lawsuit

November 24, 2016

[Photo: Captured from YouTube video]

 

Muriel 'Mickey' Siebert - the first woman to hold a seat on the NYSE - must be turning in her grave over allegations that the brokerage firm she founded now resembles “a rowdy teenage boys’ locker room,” according to a new lawsuit.

 

Question: Doesn't such a case need to go through FINRA arbitration?

 

Institutional salesman Tom Corcoran is suing Siebert Cisneros Shank, claiming he was demoted after standing up for his demeaned female co-workers.

 

An office manager at the brokerage firm confided to Corcoran that she was uncomfortable with the male traders saying things like, “I wouldn’t put your d–k in her” and, “What’s it like when you got your head in that smelly ­s–tch?” the Manhattan Supreme Court suit says.

 

Corcoran says he, too, was a target of harassment. He is suing for unspecified damages.

 

Siebert, who died in 2013 at age 80, first muscled her way into the boys’ club of Wall Street in 1967, buying a seat for $445,000. She eventually amassed a $48 million fortune.