© Reuters. FILE PHOTO: The emblem for Goldman Sachs is seen on the buying and selling flooring on the New York Inventory Change (NYSE) in New York Metropolis, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/File Photograph
(Reuters) – Goldman Sachs Group Inc (NYSE:) has agreed to pay $215 million to settle a long-running class-action lawsuit that accused the funding financial institution of widespread bias in opposition to ladies in each pay and promotions, Bloomberg Information reported on Monday citing an individual conversant in the matter.
Final week, Reuters reported that the talks have been ongoing to settle roughly a month earlier than the trial was set to start.
The plaintiffs alleged the financial institution systematically paid ladies lower than males and gave ladies weaker efficiency evaluations that impeded their profession development.
They’re led by Cristina Chen-Oster, Mary De Luis and Allison Gamba, who have been Goldman vice presidents, and Shanna Orlich, who was an affiliate.
Goldman, which has beforehand denied wrongdoing, declined to remark.
Attorneys for the plaintiffs at Lieff Cabraser Heimann & Bernstein LLP didn’t instantly reply to a request for remark, whereas Goldman’s lawyer Sullivan & Cromwell LLP was not instantly obtainable to remark.
The lawsuit is among the many highest-profile instances concentrating on Wall Road’s alleged unequal remedy of ladies, together with in litigation in opposition to many banks that stretches again many years.
