JPMorgan Chase offered former banker Chirayu Rana $1 million in March 2026 to settle sexual assault and racial harassment claims.
Rana rejected the settlement offer and countered with a demand for $11.75 million.
Negotiations collapsed following the counteroffer, leading to a lawsuit filed in New York state court.
The lawsuit accuses senior executive Lorna Hajdini of coercing Rana into sexual acts and using racial slurs.
JPMorgan and Hajdini deny the allegations, stating an internal investigation found no evidence to support the claims.
The bank confirmed it sought an agreement to avoid litigation and associated reputational damage.