JPMorgan Tried To Settle Sexual Harassment Case With Chirayu Rana

Photo: Bregal Sagemount

India-West News Desk

NEW YORK, NY – JPMorgan Chase attempted to resolve a former employee’s allegations of discrimination and sexual harassment through a financial settlement earlier this year but talks broke down before the dispute moved into court and gained widespread attention on Wall Street, writes the New York Times.

The bank proposed paying $1 million to settle the claims, according to individuals familiar with the discussions, but no agreement was reached between the parties.

The ongoing case involves former investment banker Chirayu Rana, who has accused senior executive Lorna Hajdini of sexual assault, coercion, and racial harassment in a lawsuit filed in New York state court. Initially submitted anonymously and later refiled, the details soon became public.

According to The Wall Street Journal, negotiations between Rana’s legal team and JPMorgan began earlier this year. The bank put forward its $1 million offer in March in an effort to resolve the dispute before it escalated publicly. Rana subsequently countered with a demand of $11.75 million, people familiar with the matter said.

A spokesperson for JPMorgan confirmed that the company had explored a settlement prior to the lawsuit. At the same time, the bank has maintained that an internal review did not substantiate Rana’s allegations, adding that he did not fully cooperate with the investigative process. Lawyers representing Hajdini have rejected the claims as false and said there was no sexual or romantic relationship between the two.

The lawsuit alleges that Rana, who served as a senior vice president in JPMorgan’s leveraged finance division, experienced in lurid detail ongoing misconduct and retaliation beginning in 2024. It also includes claims of racial discrimination involving colleagues at the firm.

After leaving JPMorgan, Rana worked at Bregal Sagemount, where he was later dismissed earlier this year. The firm has said it was unaware of his complaints against JPMorgan during his tenure.