Ellen Pao, the former interim CEO of Reddit, has announced she is dropping her gender discrimination lawsuit against her old employer, Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers. In March, a San Francisco jury had rejected all of Pao’s claims against the firm, but Pao decided to appeal the ruling in June. She is now dropping the case completely, however, as she says she can no longer afford to continue. Rather than settling with the firm (and causing them to pick up the remaining court costs), she decided to pay $276,000 in court costs herself. Pao explained the firm did not want to settle without a non-disparagement provision, meaning she would no longer be free to speak out about her experiences with gender discrimination at the firm. In a statement to the Wall Street Journal and Re/Code, she writes: “Settlement might have provided me with financial benefits, but only at the great cost of silence. I feel gratified that my actions have encouraged others to speak up about discrimination in venture capital and technology more broadly. I am encouraged that companies are taking more action to quantify and address the disparity of opportunities for women and minorities.”
Read the full story at The Huffington Post.