USA: Judge allows class action lawsuit alleging gender discrimination against Goldman Sachs to proceed

Author: Andrew Buncombe, The Independent (UK), Published on: 2 April 2018

"Judge allows 2,300 women to proceed with gender bias lawsuit against Goldman Sachs", 1 Apr 2018

More than 2,300 women are pushing forward with a lawsuit claiming one of Wall Street’s largest banks discriminated against them on grounds of gender...US District Judge Analisa Torres said the women could bring their lawsuit alleging discrimination in terms of pay, promotions and performance reviews against Goldman Sachs, as a class action.  The ruling covers female associates and vice presidents who have worked in Goldman’s investment banking, investment management and securities divisions since September 2004.  Goldman was accused of systematically paying women less than men, and giving them weaker performance reviews that impeded their career growth, Reuters said...Ms Torres said the plaintiffs provided “significant proof of discriminatory disparate treatment” at Goldman.  She cited as an example an expert’s report that female vice presidents and associates were on average paid a respective 21 per cent and 8 per cent less than their male counterparts.  The judge also said the plaintiffs provided proof that Goldman was “aware of gender disparities and gender bias”, but still did not adjust its policies...Ms Torres said...the class action will not include the claim that Goldman maintained a “boys’ club atmosphere” where women were allegedly subjected to unwanted stereotyping, harassment and retaliation...

Read the full post here

Related companies: Goldman Sachs