A senior City banker faces a £300,000 court bill after losing an appeal over a failed sex discrimination claim.
Andrea Madarassy launched her case against Nomura four years ago
Andrea Madarassy, 42, of Leatherhead in Surrey, had alleged unfair dismissal, sex discrimination and victimisation against Nomura International.
But the Court of Appeal has dismissed her case and upheld previous decisions by the Employment Tribunal and Employment Appeals Tribunal.
Japanese-owned Nomura said it had been vindicated by the ruling.
Ms Madarassy earned a basic salary of £70,000 plus bonus as part of the firm's equity capital markets department.
She started her job in January 2000 but was made redundant in November 2001, four months after returning from maternity leave.
On Friday, three Appeal Court judges turned down her claim that the rejection of her sex discrimination case by the employment tribunals was unjustified.
Ms Madarassy said: "While I'm disappointed with the judgment, I think it was important to raise the issue of the treatment of pregnant women in the workplace, particularly in the City, and I hope it has made employers review their day-to-day policies towards their pregnant employees."
The court refused her permission to appeal to the House of Lords, although she can apply direct.
Ms Madarassy was ordered to pay £80,000 interim costs to Nomura within 28 days.
Company spokesman Stephen Sidebottom said: "We have maintained throughout that Andrea was not discriminated against - neither for being a woman nor a mother - when made redundant in 2001, and at every stage the courts have agreed."