Home Depot Settles Sex Bias Lawsuits

Home Depot Inc. said it settled four sex discrimination lawsuits, including a class-action suit in California, that will result in a third-quarter pretax charge of $104 million, or about 8 cents a share. The Atlanta-based company was accused of discriminating against women in hiring, placement, promotion and compensation. Under the class-action agreement, Home Depot will set up an internal complaint system and retrain managers. The retailer denied it discriminates against women. About 35% of its workers are women, compared with an average of 28.5% for home-improvement retailers, said Larry Smith, vice president of legal affairs. The company’s shares rose 13 cents to close at $53.75 on the New York Stock Exchange.