Pimco Must Face Female Workers’ ‘Fraternity Culture’ Lawsuit

Allianz SE’s Pacific Investment Management Co. must face a lawsuit filed by female workers alleging the money manager operates as a fraternity that favors white males, a California judge ruled.

Orange County Superior Court Judge Stephanie George rejected Pimco’s request to throw out most claims in a lawsuit filed last year by two employees at the firm’s Newport Beach office alleging the company culture marginalizes, demeans and undervalues women and that male leaders overtly favor other men regardless of their qualifications.

Both women claim they were discriminated against based on their gender and were ultimately demoted after reporting instances of bias and harassment to human resources.

George pared back the complaint in her July 7 ruling, dismissing claims including harassment and intentional misrepresentation. The company had argued in a March court filing that the claims are “woefully deficient,” arising from “every imaginable (and here, imagined) workplace slight.”

Pimco spokeswoman Agnes Crane declined to immediately comment.

Nancy Abrolat, a lawyer for the plaintiffs, didn’t immediately respond to an emailed request for comment.

The case is Collazo v. Pimco, 30-2020-01170559, California Superior Court, Orange County (Newport Beach).

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