General Gaming Women suing Riot Games may deserve $400 million, not $10 million, state regulator says

[Jason]

https://www.latimes.com/business/technology/story/2020-01-21/riot-games-gender-discrimination-settlement

[Commissar SFLUFAN]

Quote

Both Riot and Rosen Saba, the firm representing the plaintiffs, have filed rebuttals to the state objections, arguing that no mistakes were made in the process of reaching the settlement and that it should be approved by the court.

...

Lawyers for Riot and the plaintiffs argue that the DSLE is wrong, having mistaken the terms of an earlier draft settlement for the narrower terms of the final settlement, and that the case is procedurally sound.

 

[legend]

 

[XxEvil AshxX]

Nobody deserves $400M.

[TwinIon]

The article says that the $400M is "in potential back pay based on the wage differential between men and women at the company, excluding any additional penalties." That doesn't sound right. If it was $400M because there was a bunch of punitive fees put on Riot, that might make sense, but it's hard to imagine that they owe these employees $400M in missed wages.

[Paperclyp]

Listen I don't think they likely suffered enough misery to need $400 million, but 

 

Riot doesn't deserve that kind of money for their shit either, so give it to the people actually working I guess. 

[XxEvil AshxX]

1 hour ago, Paperclyp said:

Listen I don't think they likely suffered enough misery to need $400 million, but 

 

Riot doesn't deserve that kind of money for their shit either, so give it to the people actually working I guess. 

 

In that case, give it to everyone. There are wrongful death victims whose families havent been paid that much. These ladies put up with dick and fart jokes. 

[Keyser_Soze]

Could be based on this study that women have 10 trillion dollars in unpaid work

 

https://www.image.ie/life/womens-unpaid-work-worth-10-8-trillion-year-three-times-global-tech-sector-oxfam-report-173235

[Paperclyp]

1 hour ago, XxEvil AshxX said:

 

In that case, give it to everyone. There are wrongful death victims whose families havent been paid that much. These ladies put up with dick and fart jokes. 

That's fine. I'll take some. 

[Guest]

5 hours ago, XxEvil AshxX said:

 

In that case, give it to everyone. There are wrongful death victims whose families havent been paid that much. These ladies put up with dick and fart jokes. 

They were allegedly compensated less than their male counterparts, both via directly depressed wages and denied promotions.

[XxEvil AshxX]

10 hours ago, sblfilms said:

They were allegedly compensated less than their male counterparts, both via directly depressed wages and denied promotions.

 

I believe it. I'm not denying Riot did any of the shitty things they're accused of; what I'm saying is that nothing those people went through is worth 400 million bucks. 

[Guest]

17 minutes ago, XxEvil AshxX said:

 

I believe it. I'm not denying Riot did any of the shitty things they're accused of; what I'm saying is that nothing those people went through is worth 400 million bucks. 

The claim by the state is that the 400 million is just lost wages, not something punitive. Now, it’s hard to imagine the actual lost wages could amount to that but none of us here have the data to support or refute the claim by the state. It should be noted that this is a class action suit on behalf of all female employees of Riot over a significant period of time, not just the two employees who initially filed suit.

[TwinIon]

Here's a hypothetical that could bridge some of the gap between the $10M settlement and the $400M state figure.

 

In 2011, Tencent bought 93% of Riot for $400M. I realize this isn't exactly how things work, but if they bought the company with stock, the price for Tencent then was ~$4.45. It's now ~$49, making that initial $400M worth $4.4 Billion. Tencent also bought the remaining 7% of the company when their stock was worth ~$15 for an undisclosed sum. If you include stock compensation, it's not impossible that we're talking about total compensation for the top guys in the hundreds of millions. Riot's co-chairs are questionably listed as being worth $200M, on a page that underestimates the sale of Riot by almost half, and also seems to think they get $10M a year in salary.

 

If we work under the assumption that some of these women may have been in a position to be compensated like some of the top brass, and may have had compensation in the form of a stock that has grown more than 10x its value since Riot sold, that makes the idea of $400M in "missed wages" seem much more plausible.