Oregon Reaches a $90 Million Settlement With the Owner of Victoria’s Secret
Oregon officials believe a $90 million settlement it has reached with the parent company of Victoria’s Secret guarantees an end to its “culture of harassment and fear.”
Under the settlement, Victoria’s Secret and Bath & Body Works, owned by L Brands Inc., each committed to invest $45 million over at least five years to protect employees from harassment and discrimination and require accountability from executives when misconduct occurs, Oregon Attorney General Ellen Rosenblum and Treasurer Tobias Read said in a statement sent by email Monday.
It also releases former employees from non-disclosure agreements, allowing them to speak publicly about their experiences.
The settlement is on behalf of the Oregon Public Employees Retirement Fund and other shareholders who alleged that L Brands’ board of directors failed to investigate former CEO and Chairman Emeritus Leslie Wexner’s close personal ties with pedophile Jeffrey Epstein, and ignored a widespread culture of sexual harassment at the company, the two Oregon officials said.
