Tr?id=566623520170033&ev=PageView&noscript=1

Goldman Sachs Pays $215 Million To Settle Class-Action Suit on Underpaying Women

Posted on May 11th, 2023 at 1:21 PM
Goldman Sachs Pays $215 Million To Settle Class-Action Suit on Underpaying Women

From the desk of Jim Eccleston at Eccleston Law 

Goldman Sachs has agreed to pay $215 million to settle a class-action lawsuit that accused the company of systemically underpaying female employees.

The class, which was comprised of nearly 2,800 women, accused Goldman Sachs of discrimination related to pay and promotions. Nearly a third of the settlement proceeds are expected to be set aside to cover attorney fees. The two sides sought to finalize a settlement before trial, which was scheduled to occur next month in New York. While the trial likely would have revolved around pay and promotion statistics, the case was also primed to evaluate the underpinnings of Goldman’s workplace culture via testimony from company executives.

The Goldman lawsuit was initially filed by Cristina Chen-Oster, a Massachusetts-based advisor who joined the firm in 1997 and sold convertible bonds. Chen-Oster filed a discrimination complaint with the U.S. Equal Employment Opportunity Commission (EEOC) in July 2005 before formally suing in 2010.

 

Eccleston Law LLC represents financial advisors and investors nationwide in securities, employment, transition, regulatory and disciplinary matters.

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

The work that you and your team have performed on my behalf is exemplary.

JT

LATEST NEWS AND ARTICLES

1775670322 Law
April 8, 2026
FinCEN Imposes $80 Million Penalty on Canaccord for AML Failures

The U.S.

1775574785 Law
April 7, 2026
SEC Charges Long Island RIA and Executives in $138 Million Private Fund Scheme

A Long Island-based registered investment adviser and two of its senior executives now face parallel civil and criminal proceedings tied to an alleged scheme involving conflicted private fund investments, as reported by InvestmentNews.

1775496481 Law
April 6, 2026
FINRA Arbitration Panel Orders Fidelity to Pay $1.3 Million Over Structured Product Disputes

A Financial Industry Regulatory (FINRA) arbitration panel has ordered Fidelity Brokerage Services to pay approximately $1.3 million to two groups of clients who alleged misconduct tied to structured product investments, according to ThinkAdvisor.