Lawsuit alleges women at Goldman Sachs have been harassed and assaulted for years

Goldman Sachs GS employs numerous women,
More than a decade ago, new allegations uncovered years of discrimination, sexual harassment and sexual assault by male executives at the Wall Street giant.

A judge on Thursday set a hearing date for June 5, 2023 in the US Southern District of New York for the year-long legal battle.

The document list at least 75 reported cases of sexual misconduct by male managers and seven criminal charges Charged with serious crimes, including rape, attempted rape and sexual assault.

The company was also accused of letting managers down despite repeated warnings Complaints from female subordinates.

“For example, a male manager took his female employee to an abandoned office floor and offered her sex,” the court filings say. The male manager then “called her separately and said he was masturbating to the sound of her voice.”

“He also insisted that she come to his apartment, where he showed her photographs he had taken of other Goldman employees in lingerie,” the complaint reads.

lawyers published internal complaints submitted to Goldman officials between 2000 and 2011, describing how a manager reportedly told a female subordinate that “with that feisty manner you would be good in bed.”

Another Goldman executive told a subordinate he loved her and repeatedly made sexually suggestive comments and advances during his business trips, the lawsuit alleges.

According to court documents, the woman was quoted as saying, “I spoke to this guy who just got promoted to VP … I told him how I was uncomfortable with the way the guys were touching me and he was really supportive and giving.” Advice on what to do and the next thing I know his hand is on my ass too!”

A Goldman Sachs spokesman told The Post: “The plaintiffs’ account of the lawsuits does not reflect the reality at Goldman Sachs. Many are two decades old and have been selectively, imprecisely and incompletely presented.”

The spokesman added, “Discrimination, harassment and abuse in any form are unacceptable at Goldman Sachs and when detected, prompt action will be taken, including termination.”

“Out of respect for those affected, we will not comment on the individual complaints.”

The court documents list other incidents of unwanted touching. A male employee is said to have shown co-workers a sex tape he had made with an unidentified woman and then “perpetuated a rumor that the woman was a female co-worker”.

The lawsuit alleges at least seven criminal charges have been filed alleging sexual assault, attempted rape or rape by male Goldman employees.

A female employee alleged that she was drugged and raped by a male employee after a company baseball game.

The lawsuit also alleged that a male manager molested, groped and suggested that a female subordinate have sex during an orientation retreat.

After she rebuffed his advances, he followed her to her room, tried to get into bed with her and didn’t leave her until she could lock the door, according to the lawsuit.

The court documents also allege that Goldman is “aware of these issues” and “tolerates managers who engage in gender stereotyping, sexual harassment, and/or gender bias.”

One employee claims it is “common knowledge” that an “involved CEO” is “inappropriate towards young women” and “other women have inappropriate experiences with it.” [him]’ and that she is ‘afraid of being alone with him’.

The documents detail other alleged incidents, including one in which the company only issued a “verbal warning” to a male manager who was said to have groped his assistant.

Another male confidante was fired with a “strongly worded written warning” after spreading a rumor about a sex tape.

“Indeed, perpetrators of sexual harassment were promoted to senior management positions or allowed to remain there,” the plaintiffs’ attorneys said.

Cristina Chen-Oster, one of three named plaintiffs who filed the lawsuit against Goldman, first went public with her allegations in 2005.

The MIT graduate-turned-vice-president at Goldman claimed a male colleague pinned her to the wall and shoved his hand down her blouse while trying to impose himself on her.

Court documents allege that even after she reported the incident to the company, her attacker was promoted to chief executive officer.

The other named plaintiffs in the case are Allison Gamba and Shanna Orlich.

Gamba claims she was passed over for a promotion, despite making a department-record $9.5 million as a trader for Goldman on the New York Stock Exchange, while lower-skilled male colleagues were boosted in rank and salary.

When she pulled her boss aside and asked him if he nominated her for an executive director role, she said he told her, “I would have been a laughing stock nominating you.”

“I just knew I wasn’t going to get promoted anymore,” Gamba said Vox in 2019.

“My head was on the glass ceiling.”

Orlich worked at Goldman as an associate dealing in bad debt. She claimed her manager hired prostitutes for a Christmas party “wearing short black skirts, strapless tops and Santa hats.”

Last month, a former Goldman banker, Jamie Fiore Higgins, published a memoir alleging that the Manhattan headquarters of the investment bank was so rife with misogyny that a colleague kept a chart ranking female recruits by their “F–kability” and stated, “I want boob size and A shape.”

Higgins, 46, of Somerset County, New Jersey, writes that it was her told by a male colleague that she was promoted “because of her vagina”. and that she was the target of “moo” noises from coworkers who made fun of her weight after she gave birth to her fourth child.

On another occasion, she claims, she was forcibly nailed to a wall by a male colleague, “who wrapped her up [his hand] around my jaw” and threatened her while she hung in mid-air.

Higgins is the author of “Bully Market: My Story of Money and Misogyny at Goldman Sachs”, which is currently Amazon’s #1 bestseller in the “Financial Services Industry” category.

The investment bank issued a statement to The Post, which said: “Had Ms. Higgins raised these allegations with our HR department at the time, we would have investigated them thoroughly and addressed them seriously.”

“We have a zero tolerance policy for discrimination or retaliation against employees who report misconduct.”

A Goldman spokesperson also pointed out that in the Author’s Note section of the book, Higgins writes that the “Goldman Sachs individuals referenced are composite characters.”

This report originally appeared on Lawsuit alleges women at Goldman Sachs have been harassed and assaulted for years

Brian Lowry

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