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    Law firm: Woman behind Silicon Valley gender suit demanded $2.7M

    By SHOOTUpdated:No Comments1018 Views
    In this Feb. 24, 2015 file photo, Ellen Pao leaves the Civic Center Courthouse during a lunch break in her trial in San Francisco. (AP Photo/Eric Risberg, file)
    SAN FRANCISCO (AP) --

    The woman behind a high-profile gender discrimination lawsuit against a Silicon Valley venture capital firm demanded $2.7 million not to appeal the jury verdict against her, the firm said Friday.

    Attorneys for Kleiner Perkins Caufield & Byers included the figure in court documents filed in San Francisco Superior Court against Ellen Pao, and a spokeswoman for the company said Pao sought the money in exchange for not appealing.

    "We have no intention of accepting this unreasonable demand," the spokeswoman, Christina Lee, said.

    Heather Wilson, a spokeswoman for Pao, declined comment on Friday's court filing or statement by Kleiner Perkins.

    Pao filed a notice this week that she was appealing the March verdict, in which a jury found Kleiner Perkins did not discriminate or retaliate against Pao.

    The case became a flashpoint in an ongoing discussion about gender inequity at elite technology and venture capital firms, where women are grossly underrepresented.

    During the trial, Kleiner Perkins attorney Lynne Hermle tried to portray Pao as someone just interested in money. She said Pao failed as an investor at the company and sued to get a big payout as she was being shown the door. Pao is now interim CEO of the Internet discussion forum Reddit.

    Pao's attorneys said she was an accomplished junior partner who was passed over for a promotion because the firm used different standards to judge men and women, and that she was fired when she complained about discrimination.

    Pao told jurors that her lawsuit was intended in part to create equal opportunities for women in the venture capital sector.

    Kleiner Perkins is seeking more than $970,000 in legal costs from Pao. It had said it would waive all costs if Pao did not pursue an appeal.

    Kleiner Perkins defended the costs in Friday's filing against Pao's claims that they were improper and excessive.

    Tags:Ellen Pao



    DirecTV calls off acquisition of rival Dish, possibly ending a yearslong pursuit

    Friday, November 22, 2024
    Dish Network satellite dishes are shown at an apartment complex in Palo Alto, Calif., Feb. 23, 2011. (AP Photo/Paul Sakuma, File)

    DirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by bond holders at that company.

    The deal was reliant on Dish bond holders agreeing to trade in the debt they held for debt in the new company, a swap that would have cost them about $1.6 billion, collectively.

    The retreat by DirecTV this week may end a years-long effort by the company to acquire both Dish and Sling after it announced the bid in September.

    DirecTV was looking to acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that included a payment of $1, plus the assumption of approximately $9.8 billion in debt. The deal was contingent on several factors, including regulatory approvals and bondholders writing off debt related to Dish.

    "While we believed a combination of DirecTV and Dish would have benefited all stakeholders, we have terminated the transaction because the proposed exchange terms were necessary to protect DirecTV's balance sheet and our operational flexibility," DirecTV CEO Bill Morrow said in a statement.

    The prospect of a DirecTV-Dish combo has long been rumored, and reported talks resurfaced over the years. And the two almost merged more than two decades ago — but the Federal Communications Commission blocked the deal valued at the time at $18.5 billion deal, citing antitrust concerns.

    The pay-for-TV market has shifted significantly since. As more and more consumers tune into online streaming platforms, demand for more traditional satellite entertainment continues to shrink.

    DirecTV says that it will continue to invest in next-generation streaming platforms and offer new packaging options while integrating content from live TV alongside direct-to-consumer... Read More

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