NEW YORK—New York investment bank Goldman Sachs Group Inc. was sued on Wednesday for allegedly discriminating against its female employees in promotions, compensation, and making business decisions.
Goldman was sued by three former female employees, who seek to convert the case to class-action status.
The lawsuit, filed in federal court in the Southern District of New York, claimed that women at the investment bank often get paid less, are given less glamorous assignments, and aren’t afforded the same opportunities and support provided to men at the same levels. The bias occurs at a managerial level, the suit says.
“Violations of [Goldman Sachs’] female employees’ rights are systemic, are based upon company-wide policies and practices, and are the result of unchecked gender bias that pervades Goldman Sachs’ corporate culture,” the complaint read.
“Goldman Sachs systematically undervalues the efforts and achievements of its female employees,” said Adam Klein of Outten & Golden LLP, the plaintiffs’ New York-based attorney.
All three plaintiffs were relatively far up on the corporate ladder at Goldman. Plaintiffs Shanna Orlich and Christina Chen-Oster were both vice presidents, while Lisa Parisi was a managing director at the firm.
But according to the suit, women are underrepresented—29 percent of vice presidents and 17 percent of managing directors are female at the bank.
Goldman Sachs representatives declined to provide comment.
Goldman was sued by three former female employees, who seek to convert the case to class-action status.
The lawsuit, filed in federal court in the Southern District of New York, claimed that women at the investment bank often get paid less, are given less glamorous assignments, and aren’t afforded the same opportunities and support provided to men at the same levels. The bias occurs at a managerial level, the suit says.
“Violations of [Goldman Sachs’] female employees’ rights are systemic, are based upon company-wide policies and practices, and are the result of unchecked gender bias that pervades Goldman Sachs’ corporate culture,” the complaint read.
“Goldman Sachs systematically undervalues the efforts and achievements of its female employees,” said Adam Klein of Outten & Golden LLP, the plaintiffs’ New York-based attorney.
All three plaintiffs were relatively far up on the corporate ladder at Goldman. Plaintiffs Shanna Orlich and Christina Chen-Oster were both vice presidents, while Lisa Parisi was a managing director at the firm.
But according to the suit, women are underrepresented—29 percent of vice presidents and 17 percent of managing directors are female at the bank.
Goldman Sachs representatives declined to provide comment.
