Goldman Sachs to pay $215M to settle gender pay, discrimination case
By 
Aaron Nicodemus2023-05-09T18:14:00
Goldman Sachs agreed to pay $215 million to settle a class-action lawsuit that accused the bank of pay and advancement discrimination against female vice presidents and associates.
The bank and four female plaintiffs reached settlement, although the agreement still must be approved by the federal judge overseeing the case in U.S. District Court for the Southern District of New York, the plaintiffs’ counsel at law firm Lieff Cabraser Heimann & Bernstein announced in a press release Tuesday. A jury trial had been scheduled to begin June 7.
As part of the settlement, Goldman Sachs agreed to hire an independent expert to assess its performance evaluation process and gender pay equity.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
News BriefGoldman Sachs fined $425K by FINRA for large option reporting lapses
Goldman Sachs agreed to pay $425,000 as part of a settlement with the Financial Industry Regulatory Authority addressing allegations of reporting and supervision violations regarding more than 1 million over-the-counter options positions.
-
PremiumCW Europe: Compliance challenges in 2023 and beyond will look a bit different
Dealing with risks relating to artificial intelligence; diversity, equity, and inclusion; and shortfalls in staff, training, and expertise are set to be among the biggest challenges for compliance officers in 2023 and the years ahead, say practitioners.
-
ArticlePut principles to practice with ‘Bias Interrupted’
Legal scholar Joan Williams’s book delivers an avalanche of evidence-based research on structural biases in the workplace and teaches how to course correct broken systems over time by interrupting basic business functions now.
More from Ethics & Culture
-
AnalysisSimple steps to improve corporate training can have big impact
We all have terrible attention spans. Understanding how people learn can mean the difference between effective compliance training programs or an eye roll.
-
PremiumUkrainian Red Cross Society ensures compliance in a warzone, as Program of the Year
The Ukrainian Red Cross Society, CW’s 2025 Compliance Program of the Year award winner, built a full-fledged compliance program from scratch in twenty months during a full-scale war against Russia. “We didn’t just manage logistics; we built momentum,” says URCS’s Chief Risk Officer Dr. Mariia Polomoshnova.
-
AnalysisCompliance pros need guaranteed job protections when speaking truth to power
Too often, compliance professionals do their jobs only to receive a pink slip at the end. Panelists at Compliance Week’s 20th Anniversary National Conference in Washington, D.C. this week said compliance professionals need regular access and reporting lines to CEOs and boards of directors, and to feel free to speak ...