Texaco and Coca-Cola are brand names synonymous with quality products and successful global business operations. However, these corporate names are now equally indicative of every chief executive officer’s nightmare—the nationwide, across-the-board, high-stakes class-action employment discrimination lawsuit.
The $192.5 million settlement of the Coca-Cola case in December of 2000 and the $176 million settlement of the Texaco case that preceded it in March of 1997 are lurking in the background of any class action exposures and lawsuits in the new millennium. Avoiding such a problem is the wish of every risk manager in America.
The typical stakes in an employment discrimination class-action lawsuit are enormous.
