"Centerview Partners and former junior banker Kathryn Shiber have reached a settlement, ending a closely watched lawsuit about Wall Street work culture that was set to go to trial in Manhattan federal court on Monday.
The case centered on allegations that the boutique investment bank violated disability discrimination laws when it fired Shiber in 2020 after she said she needed eight to nine hours of sleep each night because of an underlying mood and anxiety disorder.
Court filings and depositions in the case offered a rare look into the grueling demands placed on first-year analysts, including testimony that they typically work between 60 and 120 hours a week and that "in some projects, you are working 24 hours a day." Emails between Shiber and her higher-ups highlighted the unpredictable nature of the job, with her associate saying in one exchange that "there will always be more for you to do."
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The resolution means a jury will not weigh in on questions about Wall Street's long hours and workplace accommodations, and that top bankers won't have to take the witness stand. Tony Kim, the co-president of the investment bank, was among those expected to testify."