SoFi CEO Backs Out of Goldman Event Amid Sexual Harassment ProbeBy
Cagney was scheduled to speak at bank’s FinTech conference
Firm subject of lawsuit alleging misconduct and harassment
Social Finance Inc. Chief Executive Officer Mike Cagney was supposed to take the stage at the Goldman Sachs FinTech Conference in New York City on Thursday, but he backed out amid a lawsuit and internal investigation at the firm.
Last month, a former employee sued SoFi alleging he was defamed by the CEO and fired in retaliation for speaking out on behalf of co-workers. Late last week, the suit was expanded to allege that Cagney “fosters a sexually charged corporate culture that condones unlawful conduct.” Cagney sent a memo to employees announcing the internal investigation and saying “severe action will be taken” if the allegations are true.
“Mike had a conflict that couldn’t be resolved, and has done a handful of conferences lately, including one just last week on stage with another Bloomberg reporter,” SoFi spokesman Jim Prosser said.