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.
* * *