JPMorgan Chase attempted to settle a sexual harassment case involving former employee Chirayu Rana for $1 million, but negotiations fell through before the dispute gained public attention.
NEW YORK, NY – JPMorgan Chase has made efforts to resolve allegations of discrimination and sexual harassment brought by former employee Chirayu Rana through a financial settlement earlier this year. However, discussions broke down before the case could enter the court system, drawing significant attention on Wall Street, as reported by the New York Times.
The bank reportedly offered $1 million to settle Rana’s claims, according to sources familiar with the negotiations. Despite this offer, no agreement was reached between the involved parties.
The case centers on allegations made by Chirayu Rana, a former investment banker at JPMorgan, who has accused senior executive Lorna Hajdini of sexual assault, coercion, and racial harassment in a lawsuit filed in New York state court. The lawsuit was initially submitted anonymously but was later refiled, bringing the details into the public domain.
Negotiations between Rana’s legal team and JPMorgan began earlier this year, with the bank proposing its $1 million settlement in March in an attempt to resolve the dispute before it escalated further. In response, Rana reportedly countered with a demand for $11.75 million, according to individuals familiar with the matter.
A spokesperson for JPMorgan confirmed that the company had explored a settlement prior to the lawsuit. The bank has maintained that an internal review did not substantiate Rana’s allegations, asserting that he did not fully cooperate with the investigative process. Lawyers representing Hajdini have categorically rejected the claims, stating that there was no sexual or romantic relationship between Rana and Hajdini.
The lawsuit details Rana’s experiences as a senior vice president in JPMorgan’s leveraged finance division, alleging ongoing misconduct and retaliation that began in 2024. It also includes claims of racial discrimination involving colleagues at the firm.
After leaving JPMorgan, Rana took a position at Bregal Sagemount, where he was dismissed earlier this year. The firm has stated that it was unaware of Rana’s complaints against JPMorgan during his time there.
This situation continues to evolve, and further developments are anticipated as the case progresses.
According to The Wall Street Journal, the breakdown in negotiations has left both parties at an impasse as they prepare for the next steps in the legal process.