Business sexual misconduct

Figure gets unicorn valuation, despite CEO Mike Cagney's past misdeeds

Mike Cagney speaking at Fortune conference in 2017.
Figure founder and CEO Mike Cagney, speaking in 2017. Photo: Rob Lever/AFP via Getty Images

Figure, a San Francisco-based consumer lending platform, raised $103 million in Series C funding led by Morgan Creek Digital at a $1.2 billion valuation.

Why it matters: Figure is led by Mike Cagney, who resigned as CEO of SoFi after reports of company-wide sexual harassment problems — including Cagney's multiple relationships with female employees and at least one instance of sending unwanted texts (an incident which resulted in a financial settlement).

American workers say #MeToo movement won't change workplace culture

Activists participate in the 2018 #MeToo March on November 10, 2018 in Hollywood, California. (Photo by Sarah Morris/Getty Images)
Activists participate in the 2018 #MeToo March in November 2018 in Hollywood, California. Photo: Sarah Morris/Getty Images

Most Americans say the nationwide sexual misconduct and racial diversity conversations will have little impact in their own place of work, according to a poll from the AP-NORC Center for Public Affairs Research.

Why it matters: Allegations of sexual misconduct in the workplace are on the rise. More than 7,600 sexual harassment claims were filed with the U.S. Equal Employment Opportunity Commissions in 2018, a 14% bump from the year before.