Issue: Gender discrimination
Chen-Oster v. Goldman Sachs, Inc., Case No. 10-6950 (S.D.N.Y.).
Lieff Cabraser serves as Co-Lead Counsel for plaintiffs in a gender discrimination class action lawsuit against Goldman Sachs. In March 2018, the Court granted Plaintiffs’ motion for class certification, thereby certifying a class of current and former female Associates and Vice Presidents employed by Goldman Sachs in the Investment Banking, Investment Management, and Securities divisions in the United States from September 20, 2004 through the resolution of the action, and in New York City from July 7, 2002 through the resolution of the action.
The case challenges Goldman Sachs’ alleged systemic and pervasive discrimination in pay, promotions, and performance violations in violation of Title VII of the Civil Rights Act of 1964 and the New York City Human Rights Law under both disparate impact and disparate treatment theories.
2023 Case Update
On May 15, 2023, on the eve of trial, the court granted preliminary approval to a $215 million class settlement. This is an historic settlement for many reasons: It is one of the largest discrimination settlements in U.S. history; it is also the single largest gender bias settlement that has occurred in advance of employees winning their case at trial, and the third-largest gender bias settlement of any kind on record (the larger ones coming years after the employees won at trial). It is nearly five times larger than the next-largest gender bias class action settlement involving a Wall Street firm.
In addition, the settlement represents approximately 78% of potential damages in the case, and 50% of all potential class damages. We are unaware of another gender class settlement before trial that had a higher recovery of potential exposure.
For more detailed information and to contact a plaintiff attorney, please visit GoldmanGenderCase.com.