Venture capital firm co-founder resigns amid sexual harassment scandal

Silicon Valley has recently been hit by a series of complaints about inappropriate behavior in the workplace. Not long ago, Uber CEO Travis Kalanick stepped down amid allegations of sexual harassment within the ride-hail company. Just a week later, Justin Caldbeck resigned as managing partner of Binary Capital after six women accused him of making sexual advances. Binary Capital is an Oakland-based venture capital firm cofounded by Caldbeck.

Although he initially denied the allegations, Caldbeck later issued a public apology after more details emerged. “It is outrageous and unethical for any person to leverage a position of power in exchange for sexual gain,” he wrote in a statement, “It is clear to me now that that is exactly what I’ve done.”

The six women, who work in the tech industry, said that Caldbeck had sexually harassed them while in a business setting. Often the advances happened while they were seeking funding for their own startups. His predatory behavior ranged from explicit late-night text messages to groping. Binary is investigating the allegations.

Caldbeck has also been sued by former employee Ann Lai for harassing her following her resignation from Binary Capital in May 2016. Lai claimed Caldbeck kept sending her text messages after she left the company.

Caldbeck threatened her not to divulge any information about her experience at the company. According to the complaint, Lai said she resigned from Binary Capital due to its “sexist and sexual environment” including a female-specific dress code and inappropriate behavior with female employees during company events.

In the male-dominated venture capital industry, female entrepreneurs who experience harassment often do not know where to turn due to the power dynamics at play. However, the fact that more women in the tech world are going public with their sexual harassment claims is an encouraging sign that things are slowly changing.

Read more

unpaid wage lawyer

Walgreens employees win $4.5M settlement in bag check lawsuit

Over the years, several California employers have been sued for not paying employees for time spent on bag checks before or after work. A judge recently approved a $4.5 million settlement in…

READ ARTICLE
overtime violation attorney

Oakland judge OKs $78M overtime settlement for air medical company workers

California medical flight crew employees sued their employer, a medical helicopter company, for missed breaks and overtime violations. Now, the employees are set to receive a $78 million settlement that amounts to…

READ ARTICLE
age discrimination lawyer

Using COVID-19 layoffs as a pretext for age discrimination is unlawful

The COVID-19 pandemic has created difficulties for businesses everywhere. More and more companies have resorted to layoffs to reduce their workforce in light of the economy’s downward spiral. Given the current situation,…

READ ARTICLE
age discrimination attorney

Fired executive accuses IMAX of replacing older workers with younger ones

California and federal laws protect employees from being fired or discriminated against for unlawful reasons, such as on the basis of their age, sex, disability, race or national origin. Employment violations can…

READ ARTICLE
SEEN ON
cnnmoney
marin-ij
dailypost
news10