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Goldman Sachs (GS) Deals with Ongoing Discrimination Lawsuit as Earnings Report Draws Near

  +Follow October 16, 2013 10:14AM
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On Oct. 16 U.S. Magistrate Judge James Francis ordered investment bank Goldman Sachs Group (GS) to turn over complaints logged by the company concerning sexual discrimination. This comes a day before the firm is set to release their third quarter earnings report before the opening bell.

Harassment Lawsuit

Goldman is currently facing a group lawsuit from former employees who allege the bank engages in systematic sexual discrimination against women, often passing them up for pay raises and promotions.

Goldman, unsurprisingly, denies the charges, and argued that they did not need to turn over internal complaints. In their intial refusal to turn over their records, the bank's lawyers called the requests a “fishing expedition.” Francis clearly disagreed.

The incident at the heart of the lawsuit dates back to 1997 and involves a former vice president of the company, who alleges she was groped by a male colleague. After lodging a complaint against the colleague, the former vice president says she was targeted for harassment and passed up for promotions and pay raises.

The male colleague, on the other hand, made partner and has his salary quadrupled.

Earnings Preview

While dealing with the sexual discrimination lawsuit, Goldman is preparing to release their third quarter earnings report before the bell on Thursday. As a component of the Dow, Goldman’s earnings will be closely watched as being a bellwether of the financial sector going into the fall.

The last of the Big Four banks to report, Bank of America (BAC) , will issue their earnings call on Oct 16.

 

(image courtesy of WIkimedia Commons)

Results for gs
Stock Herald
16 Apr 14 23:22:37
$GS: Brown, Warren Say Commodities Expose Banks to Unmanageable Risk http://t.co/SorRRb7vau
Stock Herald
16 Apr 14 23:12:34
$GS: Flying Kiwi dollar to come down to earth: Goldman Sachs http://t.co/Psfv0WHE0A
Dida
16 Apr 14 23:07:14
RT @GoldmanSachs: WATCH: "We're in a global shift toward #renewable sources of energy" – $GS's Stuart Bernstein. http://t.co/CSxUbCitmp #cl…
4-traders.com
16 Apr 14 23:05:07
Goldman Sachs : Unlocking your business potential http://t.co/PwidFmbglI $GS
Informer
16 Apr 14 22:56:04
$GS: Flying Kiwi dollar to come down to earth: Goldman Sachs http://t.co/ZRWnSkj1SC
CABuyer
16 Apr 14 22:43:34
$GS Flying Kiwi dollar to come 'down to earth': Goldman Sachs http://t.co/JAja2EAXnO
Radioactive Lawyer
16 Apr 14 22:33:04
RT @RudyHavenstein: *Breaking: Warren Buffet found inside Lincoln, Nebraska bowling alley arcade claw-game after game asks for $5 billion o…
Rita Metts
16 Apr 14 22:31:10
#Buy $DNAX #DNA #Energy #Drinks #New #CEO #Real #Experience > $FNMA $HEMP $PMCM $PHOT $PLPL $CBIS $JPM $GS $MS $TSLA $FB $TWTR $GOOG $MSFT
Rudolf E. Havenstein
16 Apr 14 22:28:57
*Breaking: Warren Buffet found inside Lincoln, Nebraska bowling alley arcade claw-game after game asks for $5 billion of rescue cash. $GS
Informer
16 Apr 14 22:24:33
$GS: Flying Kiwi dollar to come down to earth: Goldman Sachs http://t.co/S9glvchtBx
Informer
16 Apr 14 22:23:06
$GS: Brown, Warren Say Commodities Expose Banks to Unmanageable Risk http://t.co/LzEhYf01l9
stocknews247
16 Apr 14 22:17:28
$GS - Flying Kiwi dollar to come down to earth: Goldman Sachs -> http://t.co/xD9wzJ6369 #stock #stocks #stockaction
Jeff Robinson
16 Apr 14 21:22:46
Slowdown at $GS Revenues are expected to come in 14% lower than the same period last year.
GavinGreenberg
16 Apr 14 21:22:04
$GS: Brown, Warren Say Commodities Expose Banks to Unmanageable Risk http://t.co/46dBSV3QZL
Cecily Humphrey
16 Apr 14 20:42:07
$GS Discovery exits Britain's Ch http://t.co/dYnnrrwpn8
Fergus Hillo
16 Apr 14 20:29:56
Are you looking for winners like $D $WOOF $GS $AAPL #wealthmanagement http://t.co/XRs4RX9pk8
Stock Herald
16 Apr 14 20:22:06
$GS: Brown, Warren Say Commodities Expose Banks to Unmanageable Risk http://t.co/SorRRb7vau
WinningStockCoach
16 Apr 14 20:07:50
$GOOGL $IBM $AXP misses are huge for market direction. $GS and $GE will be critical. http://t.co/Y0LcPgUSuZ
TC
16 Apr 14 19:57:27
#Buy $DNAX #DNA #Energy #Drinks #New #CEO #Real #Experience > $FNMA $HEMP $PMCM $PHOT $PLPL $CBIS $JPM $GS $MS $TSLA $FB $TWTR $GOOG $MSFT
Kyle E. Metivier
16 Apr 14 19:53:16
You think Cramer is buying more $GS now? @is_matrix
Jonas_Mlynek
16 Apr 14 19:50:33
Dále banky #GoldmanSachs $GS (13:00, $3.70, $8.9B), #MorganStanley $MS (14:00, $0.60, $8.8B) a #PhillipMorris $PM (13:00, $1.17, $7.0B)
Informer
16 Apr 14 19:39:35
$GS: Brown, Warren Say Commodities Expose Banks to Unmanageable Risk http://t.co/LzEhYf01l9
00Matt
16 Apr 14 19:38:38
Interested in what $CMG $GS $MS release in the morning.. may offer some nice shorts if earnings miss. All three charts look like bear flags
Yu Gao
16 Apr 14 19:29:58
Published $GS estimate on Estimize: +0.47 EPS and +420.46M Revs compared to Wall Street's consensus. http://t.co/LScPsvq70C
Informer
16 Apr 14 19:28:03
$GS: [$$] Goldman: Buy Amazon http://t.co/kRioUZ3K4U
MarketNews
16 Apr 14 19:25:11
$GS - Brown, Warren Say Commodities Expose Banks to Unmanageable Risk -> http://t.co/WZ655vSUjN #stock #stocks #stockaction
Informer
16 Apr 14 19:22:05
$GS: Hungary’s Central Bank Seizes Bold Strategies http://t.co/tBXEtKoxDP
Rob Kirchenbauer
16 Apr 14 19:21:30
Chart of the Day: In a good day for the markets, $GS exits a demand zone ahead of earnings, before tomorrow's open. http://t.co/MfJGULb8Oe
stocknews247
16 Apr 14 19:17:25
$GS - Hungary’s Central Bank Seizes Bold Strategies -> http://t.co/dZlEYHshai #stock #stocks #stockaction
Informer
16 Apr 14 19:17:04
$GS: Goldman Sachs: Earnings Will Be Lower, But Will Still Crush Wall Stree... http://t.co/sVWVaCeoUz
StockNewsNet
16 Apr 14 19:15:24
$GS - [$$] Goldman: Buy Amazon -> http://t.co/M5Js843r0t #stock #stocks #stockaction
Leighton Cameron
16 Apr 14 19:11:27
$WHR #Stocks you might want to buy $GS $SE $RAX I suggest http://t.co/YRwPHWMXa8
Braylin McQuillen
16 Apr 14 19:07:36
Are you Bullish on these #stocks $PBCT $BIG $GS $SSO Click http://t.co/ufMAzeglQ1
Informer
16 Apr 14 19:07:05
$GS: Senators Urge Ban on Banks’ Physical Commodity Ownersship http://t.co/4OoGgoZ338
Informer
16 Apr 14 19:06:27
$GS: What Main Street Expects from Goldman Sachs Earnings http://t.co/YJSYpqKsbb
Matt Soleyn
16 Apr 14 19:04:40
NY Times screws up and calls Goldman Sachs' CEO Lloyd Blankfein "former" CEO. $GS response: https://t.co/t6bKxUCm9D #finance
REDRASHID EL AMIN
16 Apr 14 19:03:26
RT @CBOE: This Week in Weeklys – 4/14/2014 http://t.co/EWRTkLqtSG - reporting in the AM - $BHI $BAX $BX $CMG $DD $GE $GS $HON $MS $PM $SLB …
StockNewsNet
16 Apr 14 19:00:23
$GS - What Main Street Expects from Goldman Sachs Earnings -> http://t.co/hTuFQFwuRQ #stock #stocks #stockaction
MarketNews
16 Apr 14 18:55:37
$GS - Senators Urge Ban on Banks’ Physical Commodity Ownersship -> http://t.co/ab7xzMWZPa #stock #stocks #stockaction
Max Ghezzi
16 Apr 14 18:48:47
Top #Earnings Reporting Thursday 4/17: $GS $MS $MAT $HON $CMG $PEP $SNA $SON $SAP $AMD | More: http://t.co/CoLz60qZjz http://t.co/yliE8Mfpd5
StockNewsNet
16 Apr 14 18:45:28
$GS - Goldman Sachs: Earnings Will Be Lower, But Will Still Crush Wall Stree... -> http://t.co/9ONWLx9091 #stock #stocks #stockaction
Bettie Pagan
16 Apr 14 18:38:20
$TDG Bearish or Bullish on these #stocks $GS $DPZ $BLOX I suggest http://t.co/Os1f9vohjO
Dan
16 Apr 14 18:30:34
$GS OI for maturity 04/19/2014. 150.00 Highest put. 175.00 Highest call. http://t.co/vNXjXkQhDY
cbets
16 Apr 14 18:27:36
Commented on StockTwits: Sorry that was mean. My apologies. Bit if u work for $sale or $gs u deserve it. You've b... http://t.co/5zqnnZO4Ou
Bim And Dum
16 Apr 14 18:21:07
RT @GoldmanSachs: WATCH: "We're in a global shift toward #renewable sources of energy" – $GS's Stuart Bernstein. http://t.co/CSxUbCitmp #cl…
4-traders.com
16 Apr 14 18:20:02
Sabre IPO Priced Below Expectations http://t.co/dxH0M3keDF $EXPE $DBK $BAC $GS $MS $IMS
jake
16 Apr 14 18:15:27
Watchlist for thursday Watchlist is up http://t.co/PpJyYQPqfQ $MINE $GS $BCCI $NASV $GERN $GRNH $NFLX
Sideways
16 Apr 14 18:15:23
RT @stockgarage: $MINE looking for .02c break tomorrow with .03c target . Watchlist is up http://t.co/RySdrqqiQ8 $MINE $GS $BCCI $NASV $GER…
Kamren Martinez
16 Apr 14 18:14:44
Great #Stock Newsletter on $COG $KSU $GS $CI #investing http://t.co/r7Y8VMY7cW
Rangero
16 Apr 14 18:12:45
RT Dont follow these assholes"@GoldmanSachs: Follow $GS to find out more about who we are and what we do." Left out screw you
				
				
  +Follow October 16, 2013 10:14AM
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