Technology News

Tue, May 22, 2012

Funds with Facebook hammered as proxy by shorts

By Ross Kerber

(Reuters) - Some investment funds have paid a price for their friendship with Facebook since the social networking giant went public last ...

Tue, May 22, 2012

Facebook settles lawsuit over "Sponsored Stories"

By Dan Levine

SAN FRANCISCO (Reuters) - Facebook Inc has agreed to settle a lawsuit that alleged the site's "Sponsored Stories" feature publicized users ...

Tue, May 22, 2012

Dell results disappoint Street, shares dive

By Poornima Gupta

SAN FRANCISCO (Reuters) - Dell Inc forecast disappointing second-quarter revenue as U.S. and European corporate tech-spending weakens and consumer personal computer ...

Tue, May 22, 2012

Kleiner partner sues firm for discrimination

By Sarah McBride

(Reuters) - Kleiner Perkins Caufield & Byers partner Ellen Pao is suing the venture capital firm for sexual harassment and discrimination, according to a lawsuit filed earlier this month in California Superior Court.

Pao, who joined the firm in 2005, alleges that former Kleiner partner Ajit Nazre made sexual advances to her and worked to harm her career once she rebuffed him. Nazre didn't return a call requesting comment.

She also alleges that the firm engaged in systematic discrimination against women, for example, allowing female junior partners fewer board seats and investment sponsorships compared to male junior partners, and allocating women a smaller percentage of profits.

"The firm regrets that the situation is being litigated publicly and had hoped the two parties could have reached resolution, particularly given Pao's seven-year history with the firm," said Kleiner spokeswoman Christina Lee.

"Following a thorough independent investigation of the facts, the firm believes the lawsuit is without merit and intends to vigorously defend the matter."

TechCrunch first reported the lawsuit.

Venture capital is a clubby, male-dominated world, but sexual harassment lawsuits are rare.

Pao said when she complained to senior partners about the inappropriate behavior, including Nazre's failure to include her in meetings and on email chains, they reacted in a way she found unsatisfactory. For example, managing partner Ray Lane suggested she marry Nazre; the firm also asked her to move to the China office.

Pao also said partner Randy Komisar ...

Tue, May 22, 2012