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

As a financial advisor with over 20 years of experience, I feel fortunate to call Jim my attorney and friend. He is a fantastic lawyer and trusted advisor. He is skilled in the matters necessary to do the job well. He uses his thoughtful approach and calm demeanor to achieve a positive outcome for the client. If you want to feel confident that nothing will be missed and that you will be represented in a highly professional manner, call Jim Eccleston.

Bill C. and Dan M.

LATEST NEWS AND ARTICLES

1786029344 Law
August 6, 2026
Account Takeover Fraud Continues to Rise as Cybercriminals Refine Their Tactics

Cybercriminals continue to refine account takeover schemes, driving billions of dollars in losses for businesses and consumers each year.

1785949175 Law
August 5, 2026
FINRA Arbitration Panel Orders Arkadios Capital to Pay $2.7 Million in Ponzi Scheme-Related Claim

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Arkadios Capital to pay $2.7 million in damages to an investor who alleged the firm failed to supervise a former registered representative whose father operated a long-running Ponzi scheme, according to InvestmentNews.

1785858278 Law
August 4, 2026
SEC Fines Former LPL Broker $125,000 for Undisclosed Conflicts in Private Securities Offerings

The Securities and Exchange Commission (SEC) has censured a former LPL Financial broker and imposed a $125,000 civil penalty after finding that he failed to disclose conflicts of interest related to private real estate securities offerings that generated nearly $1.5 million in compensation, as reported by AdvisorHub.