was inkcompetent, and the same s other people. they made the case that it was not that she was a woman, but that she did not perform, according to the restrictions that they had. and it was not a reflection of kiner perkin cans, but it shoedd the strange workplace which was not great for them in particular. and shining the light on a big issue, and no matter what happens here, it is going to make people incredibly aware of the people with the genters and a bunch of innovation happening around the globe. >> yes, and we are talking about the broader impact, of how we look at discrimination in the workplace, especially in silicon vall valley. >> well, there are some cases that you don't win right away, like race, and 20 years ago, gay

people lost on all kinds of things, and they are starting to get marriage this the country. so cases build up or people start to change their behaviors, and maybe adjust their case. so in this case, the broader issue is that the gender discrimination did dominate the case. >> and scott cohn? >> yes, again to qualify, and i think that you have qualified this now, that the claim they are hung up on is the fourth claim of whether or not kleiner perkins retaliated againstle ellen pao for filing the per suit in 2012, and the allegation is that they fired her over that, and so, again, the firm is not off of the hook. and with while they ruled that they did not discriminate gai

against her for gender, and that is the predominant reason for not promoting her, they did find without the nine requisite votes that they did not promote her, and that is why it is not all over, and it will keep the whole causal live the if they look at the motivation of people filing the suits, and lawyers to take it on, and it means that it is still very much alive, taand th jury is back in the jury room deliberating and trying to perhaps change one vote. it is a generally victory for kleiner perkins, but not enti entirely, and the potential is that if she lost her job for this filing a suit, and doing what she is legally entitled to do, and they could be on the hook for substantial damages. >> and it is not a cause, but the equality and the jend ser not a cause, but it is good for all workplaces. the issue is that she did not prove that because she is a woman she did not succeed at kleiner perkins, and that said,

this is an ongoing issue with the venture capital industry, and through lots of industries, and the question is will the venture capital firms shy away from promoting women now, or are they saying, we have a problem, and we need to get the gender gap under control and the same with the racial gaps, and everything else. the discussion has been the most important part of it. and everyone does agree that we need to address the issue, and regardless of whatever the verdict happens to be. >> and we want to bring in david sanford who has been a lawyer on the case -- >> no, this is julia here. >> and you are with us, david sanford? >> yes. i am.

>> and what is your reaction to the fact that it looks like kleiner perkins won except for the retaliation charge and it is looking like it is not clear cut case, but so far, it is not going in the way of ellen pao. >> and that is right unfortunately for miss pao, and she has lost on three of the claims. the jury has reach ed a verdict on three of the claims, and no discrimination and promotion or termination due to the gender, and no retaliation regarding the failure to promote, and jury apparently found that kleiner perkins took reasonable steps to prevent gender discrimination against her, but the jury has pumped, and not reached a verdict on the fourth claim which is retaliation regarding the termination after she filed the complaint, and did other things that were protected activi activity. >> and this is the wheelhouse, and you have done these cases before as a civil lawyer, and gender discrimination, and how difficult was this one for the

jur jury? >> i think it is a difficult case, because they have to find the reasonable evidence, and with respect to three counts they have not found it. and in this case, miss pao was extremely courageous to coming forward and she has brought attention to the plight of women in the tech industry in general, and the plight of women across the country in so many kon tcon. and it is a difficult thing to do, and a lot of people decide not to do it, and she did it, and she came for ward and she was courageous to do it. and i applaud her for it, and there is a case that she could still win on the fourth count, and the jury is back in deliberations here. >> and scott cohn, what happens if she does? >> what happens if she wins on that count? >> if she prevails you mean?

>> yes, if she does, and what happens next? >> i don't know when we will know that, and the question is then becomes if she is entitled to collect damages, and look, this is an important point. even this the broader sebs of gender discrimination, because what she was alleging is that for standing up for her rights for doing what she was legally entitled to do, she lost her rights for it, and if women are emboldened to pursue the claims this is a way to do just that, and that women know they can't be retaliated against for filing a suit for raising what they believe to be a legitimate complaint. and you know, you might think that, well, you file a suit gam gamest the employer, and you have thrown away the job, and that is not the case, because people have rights, and so if she prevails on this, it is an important statement, and maybe not the statement that she was looking for, but that is what it

is, and keep in mind that the jury, the majority of the jury 8-4 found that the firm did not fire her in retaliation of the lawsuit, and they have to swing the other vote. >> that is what i was getting o to, and karen swisher, if you are with us from rico. >> yes, and you should be able to find and file the lawsuits, and it was substantive. and them firing to her h was the most unusual thing of this. i thought it was unusual move by kleiner perkins, and i'm not sure why they did it why they did it, and it is one of the most risky things they did in the case, and they did it nonetheless, so it is after somebody did it after the fact, and we will see what happened here, and if they fired her simply for filing a lawsuit, it could be large damages, and she went to this length and this

amount of time, and she obviously believes that she was saying, and she should have had her day in court. that is going to be an interesting vote. and there is enough on the jurors that they could be hung on that issue, and they could, and i'm not sure what is going to happen, because it is the weekend and the holiday on monday, and they may not get it done, because it is only 2:30 in california and maybe they want to rush out and put some pressure on people to give n and th -- give in, and that is how the juries work, and those who believe in it? and no, we don't have guidance on that as scott said, and kara i am curious, because dan said that it is still damaging on the reputation of kleiner perkins, and how do you see this impact ing the overall reputation of the firm?

>> well, yes, all of this stuff coming out in court, and nobody wants to see the workplace in court, and everybody's workplace looks insane if you put it in e-mails and things like that, and it looks like it was run a little bit loose areally that it is a partnership, and maybe it is not a surprise, but the whole venture capital industry it has people talking, and we have done wall-to-wall coverage of the push of re/code to cover this as a important issue to bring to light, and you can say 39% women graduating, and now it is 18% or whatever the statistic is that you want to the use about the lack of women in high-tech jobs, but when it comes to life, and it is confusing, and not clearcut, and it is a good way for people to understand the issue, and people getting a primer of how it works in a very dramatic, and narrative that is going on here. i think that if you bring this

issue to the light, it is going to be good, and i hope that you shove it under the kcarpet, and they will go away. >> and in this one, it is going to be interesting in the overall industry of venture capital of what has been going on, and what is going to be next for them? >> well, people have been on the edge of the seats, and glued to the coverage like re/code's live blog of the trial, and i am curious to know what will happen ne next. the fact that the retaliation claim is the one that could go in ellen pao's favor is interest interesti interesting, and that is the claim that could open the door to more lawsuits, because women do not want to be fired for speak up. so i think that it is going to be interesting to see what happens, and i think that we have got to be optimistic that it has started a dialogue. >> and julia, there was some talk that no matter how the verdict came down, it would be

harmful to the promotion, and the hiring of women in silicon valley, and technology, because it would be viewed as more of a liability. any merit? >> well, i was hearing that towards the beginning of the tri trial, and it was a conversation that i was having with a lot of the women in the v.c. community towards the beginning of the trial, but at this point, i am hearing more optimism that things will change, and especially in the light of the suits against twitter and facebook, enough momentum here that it could potentially open up the floodgates, but i am curious what kara is hearing. >> well, we have been hearing the horrible name here, and because if you inserted black or jewish, and what would happen here, and where does it go, and that is around, and nobody wants to have a world like that where you have to push down people who

are possibly going to make you a success. that name was ugly, and people who think that, it is a backward step. if they think and look up, and say, why do we have all men in the venture capital firm, and shouldn't we be looking harder, and why is this board made up of entirely men, and is that good for the company? we start to do the studies on the diverse companies that are proven or better, that is always a good thing, and people are becoming thoughtful is really important thing here, and i hope for that, and we have gotten hundreds and hundreds of letters, especially from women about our coverage, because it has been so heavy who are really interested in the topic, and beginning to debate it. that is always a good thing. i don't see how it is a negative in any way. >> and some of the conversations around this, and let's bring in the business attorney seth

berenzweig on the phone, a b business attorney, what do you think about it? >> well, the retaliation, and the business employment is a wild card can, because if a company retaliates against somebody about it, and even if the underlying discrimination card is all wet, it is still illegal. and even though it is 8-4, powell is down, but she is not out yet. >> and dan, are you on theine from fortune? no. we have lost him. >> this is david. >> david. okay. let me turn it to you them on the point of the retaliation count is going to be so important, which ever way it goes, and what are the discussions like in the jury room as they have to go back to

discuss this? >> well, the jury has to consider the causal effect of what happened when she spoke out and file d the complaint. and they have to find that there is a causal relationship between these things, and right now, the jury is not of one mind, and they have to be going back to the verdict, and the time line and the testimony and make a judgment. 9 of 12 people have to come back to make a judgment to find out that there is a causal relationship of filing the complaint, and the determination, and that as of yet has not been done, and let's say they do find in her favor, and what precedent would that set, david? >> well, it sends the signal that people's rights have not been protected -- >> just one moment, david, i need to go to scott cohn.

do you have something? >> i want to go to give you a better sense of what it is that they are snagged on and not hung on, but it is the question about her fourth claim about retaliation for her lawsuit, and the question is specifically reading like this, and were miss pao's conversations of december 2011 and the january 4, 2012 memorandum, and the filing of the lawsuit a substantial motivating factor kiner to fire her. they wanted to have that read back to them and the testimony of her senior partner to whom she raised the allegations. and so it may be the lawsuit or the conversations, but they were specifically asking about that, about whether they trumped up a bad performance reviews after 201

2011 or fired her because of it. and again, 8 votes to 4 that there was not a substantial motivating reason, and nine votes are needed, but for the perspective, that may be what they are looking at, and not necessarily the lawsuit, but those conversations, and that memo ta thhat they have been as about for three times sips they have started to deliberate. >> and now, we e have a live picture for you inside of the courthouse right now live, inside of san francisco courthouse, and this is the one where all of the journalists of silicon valley have been congregating, and it is one of the busiest courtrooms, and can you tell us about what a frenzy it has been for the journalists out there in the . >> it has been a total frenzy out there, and it is a case unlike any other out there in silicon valley, and they have

had all reports there, and re/code has had two reporters out there doing a live blog, and it is looking empty there, but i can promise you that it is not empty, and the courtroom that it was held in holds 150 audience members effectively, and so it is has been backpacked, and everyone is curious to see what is going to happen, and in addition to journalists, we have seen a lot of lawyers there, and attorneys curious the watch the case. >> and yeah, because it is breaking ground in so many ways. i was expecting to see more people inside as well. and there is a live look. >> it is misleading. >> misleading, because we know that there are hundreds, and this is san francisco superior courtroom 602 for the past five weeks has been known what is pao-parazzi, and so now i want to give you the last words here with the hung jury, scott cohn, against ellen pao. >> and it has been, and it is a

collegial courtroom, and i have been in a lot of courtrooms over three decades, and the judge has a great ease about him. you don't all rise when he come ts to the bench, but he is nonetheless authoritative judge, judge harold khan, and very skilled lawyers on both sides, and people have been watching this, getting the rare glimpse into the what happens in the venture capital firms with so much money at stake, and in silicon valley, and lifting the vail of the venture capital, and not only tech folks, but legal folks. this is a sort of a situation

where you think that you have a verdict, and you go back and poll the jury, and it is not the verdict that you think that you have, and that is why they poll the juries, but i imagine that even the plaintiff's attorneys were not expecting that result. again, one claim out of the four claims that ellen pao rose. it is important one, and if she prevai prevails on this, and if they can turn the five votes, she could be entitled to the substantial the damages, and this issue won't be over yet. >> no, and it will make quite a statement. scott cohn, we will leave it there, and an incredible hour as we continue to get the breaking news, and the jury is back in deliberation, and turns out they have backed kleiner perkins on all but one count which is still un undecided and the jury 8-4 going back in and this is the one over retaliation, and we will here on cnbc bring you more details on this case, and thank you my

thanks to everybody on this break breaking news and moving parts, and we will be right back on "fast money" to get you ready for the trading day on monday. and we have a chip deal and potential late story here in talks to buy altera and we will talk about how to talk about the trad trades, and talks that have you worried about the next quarter, and also along with the breaking developments on the ellen pao verdict. mps, 5 foot ice, and 16 foot waves, to safely keep crude oil flowing 365 days a year. when emerson takes up the challenge, it's never been done before simply becomes consider it solved. emerson.

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♪ [ dog growls ] ♪ oh. so you're protesting? ♪ okay. [ male announcer ] introducing xfinity my account. available on any device. welcome to "fast money" and busy friday afternoon of news. to get ready for monday, the chip the stocks and after a rough week, chip makers getting a boost today on the news that intel is in talks to buy rival altera sending the stock up higher, and boosting other names in the space as well including intel up 6%. dan nathan, you like this deal, potential deal i should say? >> well, it is curious when you think about it, because intel is struggling with the lack of growth, and when you look at altera they don't make the integrated circuits to go into

the pcs and that is where intel is, and they are looking toing diversi diversify, and they are not looking for the enterprise demand for the services, but this is not a company growing fast, altera and so maybe some cost savings, and they are are look ing to diversify, and they have a lot of the stock buyback, and maybe a way to put cash to use sgrchlt and intel is down 7%, and maybe this is a fleeting effort for them to hold on to something, and the market has been choosing something other than intel, and it is in their space. >> afterhours? >> well, no, overall, the market has chosen not to be a buyer of intel this year, and so i don't think that the deal is going to help them longer term, and it is a blip and friday, and take a look at it later. and let the chips fall. >> clever. and guy adami was talking about a growth driver, and if it would

not get it organically, it would go to mna. >> yes, and you go back to altera and you go back to the january quarter, and look at the analysts in the wake of the january quarter, and five of them lowered the price for the stock, and between $30 and 35 and the company was not performing all that well in the first place, and what is going on here to dan's point, the perceive to buy and need growth, and the margins, and maybe the peak margins, and maybe something, and will work out, and i don't know, maybe they have paid up, and they are grasp ing for the straws right now. >> and they sent the rally through the whole sector, and people are looking at what needs to be next. >> and you are look at the zilinks up at the end of the day, and that is a great chart n now. >> and it is a trade update with mr. grasso with the chart that made him sell out more than half of the position, and what do you

see? >> if you look at the chart that i alluded to yesterday, this is the quarterly chart of the s&p and if you go back, and this is 2000, and 2007 over here, and this is the 2012 and this is current. the s&p currently right here, and we are in the overbought status of the s&p on the qua quarterly basis, and we have not been in the overbought stat us in the quarterly basis since these two over here, and if you look at the quarter that we are having right now, we have the potential on 3/3 is next week to have a negative quarter and that would put the kibosh on the whole marketplace, and we are close to the top of the s&p, and i would be careful, and i sold the positions, because this make h me nervous as all hell and here and here, we lost nearly 50% of the marketplace, and i

don't want to let it happen to me. >> and name some names, and which stocks would you sell? >> marquee names, google, facebook, and still own twitter and iffy on that, but i sold to the southern and the you tutili name which i was saving for the rainy day, and i got out of everything, because if the market goes down, there is not a whole hell of a lot that is going to survive if the market comes in 45%. >> and what a bearish signal from you. and what are the other things to look out for, because you have been a bear? >> well, the grasso chart maks s me want to get the bear suit out of the cleaners. and risk factors with greece coming out over the weekend, and the jobless claims coming out on the friday. >> and you mean the jobs report. >> payroll report comes out on a friday when the market is not open, and a lot of concern out there, and protect yourself over the next week. >> dan? >> looking out further, and the next fed meeting is june 17th

towards the back half or the end of the quarter, and given yellen's comments today, this is something to heat up if we continue to get the decent data here in the u.s., we may be looking at the fed rate increase as soon as september, and the market is going to be anticipating that ahead of time, and we could see some volatility. >> and yes, we heard from janet yellen, guy, unusually on a friday the afternoon. >> yes, and again, she is trying to the sound hawkish, but they don't have any shot of raising the rates, so it does not matter, because the bond market is speaking for itself. the risk factors are the rates continuing to go lower, and another leg down in the crude market, and the volatile/of the world that you love foreign exchange is coming home to roost, and that is where it is, the risk factor. >> and the jobs and the dollar? >> it is going to be the dollar, and greece and the dollar going into it, and i heard janet yellin to be hawkish. >> she didn't say anything new, did she?

>> well, this is what she said new, because of the lack, the lag in central bank policy, they have to act sooner than would be expected. and that is different than what she said in the past which makes me think that they are closer to raising the rates than a week ago. >> but it is going to be gradual, and that is it. >> and the market is going to immediately price in the terminal rate. >> and the hiatus from the dollar strength is coming back, and a major headwind for the corporatio corporations, and fx is a problem, and greece could be back on the headlines again, and this is everything that we have been worried about on the desk, and i know that we have shis rugged it off, but at this point, if you look at the charpts, i think that we are in for a little bit of the roller coaster in the next couple of weeks. >> and dan, alcoa in the next couple of weeks, and the earnings are back up, and that is a worry. >> yes, expect weak q2 guidance. >> that is it for us, and pretty

eventful friday show with the ellen pao verdict today. and we will leave you with a live picture here inside of that courthouse. "mad money" is coming up with jim cramer right here on cnbc. my mission is simplement. to make you money. i'm here to level the playing field for all investors, and there is always a bull market somewhere and i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to mad money, and welcome to cramerica and some people want to make friends -- but i want to make you money. call me at