Court rules women can sue “boys’ club’ Goldman Sachs

New York Post Kevin Dugan
September 6, 2018

A federal appeals court on Tuesday allowed a 13-year-old class action gender discrimination lawsuit against Goldman Sachs to proceed.

The suit was filed by four female former bankers and alleged that Goldman is a boys’ club, ” where women are sexualized, compensated less and given less-prestigious positions.

The women had won class action status last March and, in the latest courtroom skirmish, Goldman tried to reverse the class action ruling.

A three-judge panel of the appeals court called the Goldman effort unwarranted. ”

The ruling clears the way for about 2,000 women to join the suit against the investment bank.

We are happy, ” Kelly Dermody, a lawyer for the women, told Bloomberg. We look forward to the next stage of the case. ”

This constellation of evidence reflects widespread concerns among women about gender bias and a “boys club’ atmosphere; the sexualization of women and an uncorrected culture of sexual harassment and assault, ” according to the complaint.

The suit also claims that female vice presidents earned 21 percent less than their male counterparts, while female associates earned 8 percent less.

Goldman Sachs, in fighting the suit, produced an expert witness in 2014 who claimed that the differences in salaries between men and women were statistically insignificant.

*              *             *