SoFi cofounder Mike Cagney found himself in quite the mess in 2017 after a New York Times article described the work culture at his rapidly growing fintech firm as akin to a “frat house.” Cagney was accused of having inappropriate conversations with young female coworkers; was hit with a sexual harassment lawsuit; and had employees claim they were vilified for pushing back against a questionable corporate culture.
SoFi responded to the allegations at the time by saying they had been investigated internally and "found to have no merit." But Cagney still stepped down from his CEO role later that year, arguing that the media coverage had become a “distraction” for the firm.
