Sidley 'Partner' Payout: Up to $1.8 M
The 32 former partners of Sidley Austin who were demoted in 1999 will receive a payment of between $122,000 and $1.8 million under an age discrimination settlement approved yesterday by a federal judge.
“The amount to be paid to each of the 32 former Sidley [partners] was placed under seal,” reports the Los Angeles Times. “However, the EEOC said that the payments averaged $859,375 per attorney, and ranged from a low of $122,169 to a high of $1,835,510. The EEOC said each of the lawyers either had been ‘expelled from the partnership in connection with an October 1999 reorganization or retired under the firm’s age-based retirement policy.’ “
Some of the 32 demoted partners continue to work at Sidley in other roles, but the firm didn’t elaborate on these arrangements.
Details of the settlement and its legal import are discussed in another ABAJournal.com post.