JPMorgan Chase had reportedly offered $1 million to settle allegations raised by former investment banker Chirayu Rana weeks before he filed a lawsuit accusing the Wall Street banking giant of sexual assault-related misconduct and racial discrimination, according to a report by The Wall Street Journal.
Rana’s lawsuit, initially filed in New York state court before being briefly withdrawn and refiled, alleged that colleague Lorna Hajdini sexually assaulted him and that he was subjected to racial discrimination and workplace harassment during his tenure at the bank.
According to the report, JPMorgan attempted to quietly settle the dispute in March 2026 following “weeks of mediation”. Rana had joined the bank in May 2024 and was placed on paid leave in May 2025 after filing an internal complaint detailing allegations of assault, discrimination and harassment.
Settlement Talks Collapsed Over Compensation Dispute
The report stated that the bank’s proposed $1 million settlement represented less than two years of Rana’s total compensation package. However, negotiations reportedly fell apart because both sides could not agree on payout terms.
A separate report by the New York Post claimed Rana initially demanded more than $20 million and allegedly warned he would make the matter public if no agreement was reached. Following JPMorgan’s settlement proposal, Rana’s lawyer, Daniel J. Kaiser, reportedly countered with a demand of $11.75 million.
“He threatened to go public and asked for millions of dollars,” a source familiar with the matter told the publication.
Another lawyer quoted by the Post alleged that Rana had effectively sent a “shakedown letter” threatening public exposure unless a large settlement was paid.
JPMorgan Denies Allegations
JPMorgan has strongly rejected the allegations made in the lawsuit and said an internal investigation found no evidence supporting Rana’s claims.
According to the bank, the investigation included reviews of emails, phone records and witness statements.
A spokesperson for the bank said, “We did try to reach an agreement to avoid the time and expense of litigation and to support an employee who was being threatened with the very reputational harm now unfolding.”
“We continue to believe these allegations have no merit and new information raised as a result of the public filing only reinforces that conclusion,” the spokesperson added.
The bank also clarified that Hajdini had no authority over Rana’s compensation, promotion or performance reviews because both employees reported to different managing directors.
Lorna Hajdini’s Lawyers Reject Claims
Hajdini’s legal team has categorically denied all allegations.
“She never engaged in any inappropriate conduct with this individual of any kind and has never even been to the location where the alleged sexual assault supposedly took place,” her lawyers said in a statement.
Meanwhile, Rana’s legal team continues to stand by the claims and has indicated that additional evidence could emerge as the legal proceedings move forward.JPMorgan Chase had reportedly offered $1 million to settle allegations raised by former investment banker Chirayu Rana weeks before he filed a lawsuit accusing the Wall Street banking giant of sexual assault-related misconduct and racial discrimination, according to a report by The Wall Street Journal.
Rana’s lawsuit, initially filed in New York state court before being briefly withdrawn and refiled, alleged that colleague Lorna Hajdini sexually assaulted him and that he was subjected to racial discrimination and workplace harassment during his tenure at the bank.
According to the report, JPMorgan attempted to quietly settle the dispute in March 2026 following “weeks of mediation”. Rana had joined the bank in May 2024 and was placed on paid leave in May 2025 after filing an internal complaint detailing allegations of assault, discrimination and harassment.
Settlement Talks Collapsed Over Compensation Dispute
The report stated that the bank’s proposed $1 million settlement represented less than two years of Rana’s total compensation package. However, negotiations reportedly fell apart because both sides could not agree on payout terms.
A separate report by the New York Post claimed Rana initially demanded more than $20 million and allegedly warned he would make the matter public if no agreement was reached. Following JPMorgan’s settlement proposal, Rana’s lawyer, Daniel J. Kaiser, reportedly countered with a demand of $11.75 million.
“He threatened to go public and asked for millions of dollars,” a source familiar with the matter told the publication.
Another lawyer quoted by the Post alleged that Rana had effectively sent a “shakedown letter” threatening public exposure unless a large settlement was paid.
JPMorgan Denies Allegations
JPMorgan has strongly rejected the allegations made in the lawsuit and said an internal investigation found no evidence supporting Rana’s claims.
According to the bank, the investigation included reviews of emails, phone records and witness statements.
A spokesperson for the bank said, “We did try to reach an agreement to avoid the time and expense of litigation and to support an employee who was being threatened with the very reputational harm now unfolding.”
“We continue to believe these allegations have no merit and new information raised as a result of the public filing only reinforces that conclusion,” the spokesperson added.
The bank also clarified that Hajdini had no authority over Rana’s compensation, promotion or performance reviews because both employees reported to different managing directors.
Lorna Hajdini’s Lawyers Reject Claims
Hajdini’s legal team has categorically denied all allegations.
“She never engaged in any inappropriate conduct with this individual of any kind and has never even been to the location where the alleged sexual assault supposedly took place,” her lawyers said in a statement.
Meanwhile, Rana’s legal team continues to stand by the claims and has indicated that additional evidence could emerge as the legal proceedings move forward.