S.B.A. Settles Discrimination Suit

February 1, 2011  |  

(New York Times) — Back in April, The Agenda reported on a lawsuit against the Small Business Administration, brought by a would-be venture capitalist seeking access to government-backed investment funds. The S.B.A. recently reached a settlement — actually, it was in November, but I’ve been on paternity leave (twins!) — with Diamond Ventures, an Atlanta-based fund run by C. Earl Peek, an African-American who claimed discrimination after the S.B.A. rejected Diamond’s application for a small-business investment company license. But while the settlement is good news for Mr. Peek and his partners, it does not address what Diamond claimed was a far-reaching pattern of bias that affected a whole class of black and other minority investors.

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