Wall Street is captivated by its most unusual case of alleged sexual harassment in the #MeToo era, ensnaring industry giant JPMorgan Chase, which made a $1mn offer to stop it from going public.
The allegations emerged from a salacious lawsuit by a married ex-JPMorgan investment banker, accusing a female executive of turning him into an “office sex slave”.
The story, reported by the Daily Mail, was bypassed by traditional business publications but lapped up by tabloids and social media users, spawning countless memes and getting the attention of influential podcast host Joe Rogan.
“The story doesn’t sound that real to be honest. It’s like something you’d watch on Netflix or HBO,” said the person behind the anonymous social media account Overheard on Wall Street. “That’s why the reaction is so crazy and people can’t really get enough of the story.”
The allegations are awkward on Wall Street, which has a history of problematic sexual behaviour by senior executives, virtually always male. But in this tale, the gender roles are reversed.
Women filed almost 80 per cent of sexual harassment claims received between 2018 and 2021 by the US Equal Employment Opportunity Commission.
“With the EEOC, we know that one-fifth of men are sexually harassed,” said Ann Olivarius, senior partner of law firm McAllister Olivarius. “But of course, those are men who are harassed by men generally.”
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