Goldman Sachs in talks to settle gender discrimination lawsuit -source – Reuters

NEW YORK, May 3 (Reuters) – Goldman Sachs Group Inc (GS.N) is in talks to settle a class-action lawsuit that alleged widespread gender bias against women in pay and promotions, said a source familiar with the matter.

The move to settle the case comes roughly a month before the trial was set to begin.

The plaintiffs, former employees of the Wall Street bank, accused Goldman Sachs of systematically paying women less than men, and giving women weaker performance reviews that impeded their career growth.

Goldman has previously denied wrongdoing.
The lawyers for Goldman Sachs, Sullivan & Cromwell, did not immediately respond to a request for comment. Lieff Cabraser Heimann & Bernstein LLP, lawyers for the plaintiffs, declined to comment.

The plaintiffs are led by Cristina Chen-Oster, Mary De Luis and Allison Gamba, who were Goldman vice presidents, and Shanna Orlich, who was an associate.

The Wall Street Journal reported earlier on the talks. The settlement amount could be “around a couple hundred millions of dollars,” the report said, attributing it to people familiar with the matter, adding that the sum could change.

Reporting by Saeed Azhar; Editing by Muralikumar Anantharaman

Our Standards: The Thomson Reuters Trust Principles.

Source: reuters.com