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

  +Follow October 16, 2013 10:14AM
Tickers Mentioned:

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)

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Results for gs
RMB Investor
30 Mar 15 22:38:57
RT @DeweyKnows: Buy corporate bonds for the short term: Goldman - $LQD ? -likely means $GS is dumping corporates on da market http://t.co/…
oswald kendy
30 Mar 15 22:37:35
RT @GoldmanSachs: #PODCAST: $GS' Jeff Currie discusses the "New #Oil Order" & the future of #energy: https://t.co/P0IDFjlHNY #OilPrices
My Financial Wisdom
30 Mar 15 22:05:30
Dividend Investing http://t.co/8TGkCBIR7O #DividendInvesting #StockMarket $AXP $GS $MCO $WMT $USB $WFC $PG $IBM $KO $XOM #Investment #money
30 Mar 15 20:27:02
$BAC $GS: Higher U.S. Rates Pose No Bar to Gold Rally for BofA, StanChart: http://t.co/9eIVefMQrI
30 Mar 15 20:22:02
$GS $MS: Copper Rebound Seen by Barclays as Miners Struggle on Output: http://t.co/dVsu8MLsSf
Breaking News Now
30 Mar 15 20:22:02
$GS: GF Securities Said to Plan High-End Price for $3.6 Billion Offer: http://t.co/YXmyCdkNQh
Stock Dawgzz
30 Mar 15 20:07:55
Our Penny Stock Picks On $THCZ & $RCGP Gained A Combined 700% so far! Blog Update: http://t.co/g3eVEaITz6 $GS $ZION $ISRA
saurabh kr Sinha
30 Mar 15 19:59:10
RT @GoldmanSachs: Today at $GS London - $GS' Huw Pill, Jim Esposito & others discuss creating an #EU Capital Markets Union #TalksAtGS http:…
Doom Log
30 Mar 15 19:49:51
RT @OfficialLionPac: $IJJP ready to go super saiyan ape shit mode #finalform #goldencross $JPM $C $BAC $V $PNC $GS $MS $CME $AXP $COF $T …
Chris Lemieux
30 Mar 15 19:36:30
RT @MarkTOByrne: #Goldman on ‘Peak Gold’ - Only 20 Years of #Gold Supply Left - http://t.co/ZB6Kaaqcfs $GS by @GOLDCORE http://t.co/CkVM9n…
Penny Stockington
30 Mar 15 19:34:12
Our Penny Stock Pick On $THCZ Is Up Over 400% So Far! Big News: http://t.co/SlU3u7rKnL $GS $ZION $ISRA
Mark O'Byrne
30 Mar 15 19:30:00
#Goldman on ‘Peak Gold’ - Only 20 Years of #Gold Supply Left - http://t.co/ZB6Kaaqcfs $GS by @GOLDCORE http://t.co/CkVM9n1bFo
Stock Rocket
30 Mar 15 19:10:25
Platinum Members Saw Penny Stock Picks Gain Over 1400% In 4 Months! Go Platinum: http://t.co/PsSamxBW6M $GS $ZION $ISRA
John L. Bair
30 Mar 15 19:06:32
@mhrob @BlackBerry @CardyTruster @FonsieTrader #BlackBerry $GS $MS $MOBL http://t.co/DHPqoKptWM
30 Mar 15 18:55:30
Our Penny Stock Alerts Gained Over 1400% In Just Over 4 Months! Subscribe today: http://t.co/w9IKB0aLmu $GS $ZION $ISRA
gordon gekko is god
30 Mar 15 18:32:47
Goldman Sachs: Abacus Lawsuit Returns From The Dead http://t.co/mhqwPtQCYL $GS, $C, $JPM
30 Mar 15 18:29:02
RT @GoldmanSachs: PHOTO: Former US Secretary of State Henry Kissinger & $GS CEO Lloyd Blankfein talk #US-#China relations http://t.co/Go0cx…
30 Mar 15 18:25:01
RT @RudyHavenstein: *Breaking: Hank Paulson called back to government service as Goldman Sachs shares drop over 2%. $GS http://t.co/XI1Xi6C…
30 Mar 15 18:22:02
$GS: Indonesia bets on 30% increase in tax collections: http://t.co/jPECj8eMWy
30 Mar 15 18:18:43
Bank of America Global Broad Market Index has returned 1.8 percent this year, following a 7.8 percent gain in 2014 #negativeyields $bac $gs
Breaking News
30 Mar 15 17:40:02
$GS: Crude down despite late rally, as deadline for Iran nuclear deal nears: http://t.co/jHAaljI7ID
30 Mar 15 17:39:57
RT @OfficialLionPac: $IJJP ready to go super saiyan ape shit mode #finalform #goldencross $JPM $C $BAC $V $PNC $GS $MS $CME $AXP $COF $T …
Taki Shirayanagi
30 Mar 15 17:35:33
Pierre Andurand a former Goldman Sachs oil trader made more than $200 million shorting oil for his hedge fund $GS http://t.co/poW3ii82pH
King of the Jungle
30 Mar 15 17:34:19
$IJJP ready to go super saiyan ape shit mode #finalform #goldencross $JPM $C $BAC $V $PNC $GS $MS $CME $AXP $COF $T http://t.co/bxT9isah05
30 Mar 15 17:23:54
RT @GoldmanSachs: From #Boao Forum: Jiming Ha of $GS Private Wealth Mngt discusses #China's local government debt issue: http://t.co/o0DupZ…
30 Mar 15 17:22:02
$GS $C: Macquarie Said to Cut Half of Asia Banking Jobs as Deals Fizzle: http://t.co/IjFVcRfPgB
30 Mar 15 16:57:25
RT DozenStocks: Dow #Stocks Trend $UNH $IBM $NKE $PFE $TRV $MCD $MMM $VZ $AAPL $MRK $BA $UTX $HD $DIS $CVX $GS $XO… http://t.co/gOyJTWVTjR
Breaking News Now
30 Mar 15 16:57:02
$C $MS $GS: Iron Ore Sinks to 10-Year Low as Rio Rebuts Fortescue's Cap Call: http://t.co/0QV1EYExvV
Harshal Shah
30 Mar 15 16:55:58
Why downgrade from heavy weight $GS didn't bring price of $MNKD down to $3? May be Inst. investors want more losses and hence not selling?
30 Mar 15 16:53:02
$GS - A Shrewd Oil Call Reverses Fortunes for Lucky Few http://t.co/ThekqcnEDz
James DiPlata
30 Mar 15 16:50:26
RT @DozenStocks: Dow #Stocks Trend $UNH $IBM $NKE $PFE $TRV $MCD $MMM $VZ $AAPL $MRK $BA $UTX $HD $DIS $CVX $GS $XOM $CAT $JNJ @ http://t.…
30 Mar 15 16:50:07
$GS - SEC Files Fraud Charges Against Lynn Tilton, Patriarch Partners -- 5th Update http://t.co/FPpo28Ia3w
30 Mar 15 16:38:05
#A Shrewd Oil Call Reverses Fortunes for Lucky Few http://t.co/lN7T9q3AhC $GS
Hill Capital Mgt
30 Mar 15 16:37:29
RT @DozenStocks: Dow #Stocks Trend $UNH $IBM $NKE $PFE $TRV $MCD $MMM $VZ $AAPL $MRK $BA $UTX $HD $DIS $CVX $GS $XOM $CAT $JNJ @ http://t.…
30 Mar 15 16:30:30
Dow movers $ba $cvx $hd $GS $try $unh
30 Mar 15 16:27:03
$AIG $GS $MS: A Shrewd Oil Call Reverses Fortunes for Lucky Few: http://t.co/jQcNRbL0Y0
30 Mar 15 16:20:02
$GS-PB: Global equity issuance hits first-quarter record as stake sales jump: http://t.co/zYLEizvWfB
30 Mar 15 16:12:19
Goldman's "Excel Fat Finger" - Says Earlier GDP Estimate Was A Mistake, Lowers Q1 GDP Tracking To Just 0.8% $GS http://t.co/TZuf7G6qj5
30 Mar 15 16:01:01
Dow #Stocks Trend $UNH $IBM $NKE $PFE $TRV $MCD $MMM $VZ $AAPL $MRK $BA $UTX $HD $DIS $CVX $GS $XOM $CAT $JNJ @ http://t.co/TvzJfd0RGT
30 Mar 15 15:51:07
$GS - SEC Files Fraud Charges Against Lynn Tilton, Patriarch Partners -- 4th Update http://t.co/dJpsjaQvOn
Lucky Jimmy
30 Mar 15 15:42:53
GS Stock up +1.57% percent Today $GS High is at 192.00 and the Low 189.19 with current volume of 2,401,613. Go http://t.co/daAihtb0sV
Lucky Jimmy
30 Mar 15 15:42:31
$GS GS up +1.57% percent Today $GS Stock High is at 192.00 and the Low 189.19 with current volume of 2,401,613. Go http://t.co/fe5FWRgPx8
30 Mar 15 15:27:02
$.DJI $HZNP $HPTX $UNH $ADI $AAPL $SWKS $GS $RH $NFLX $MSFT: Cramer: Two streams of money pouring into market: http://t.co/Mlxa3rocWd
FinSentS SP500
30 Mar 15 15:21:09
$GS:US Play corporate bonds for the short term: Goldman #GOLDMAN SACHS GROUP INC http://t.co/WI7wg3CZxA #SP500
Arvind Vijh
30 Mar 15 15:20:23
RT @GoldmanSachs: PODCAST: $GS vice chairman Michael Sherwood on the economic potential of #China, #India and other Growth Markets: https:/…
30 Mar 15 14:56:02
$GS: Crude down despite late rally, as deadline for Iran nuclear deal nears: http://t.co/mOIffPY87g
Breaking News
30 Mar 15 14:56:02
$GS: Crude down despite late rally, as deadline for Iran nuclear deal nears: http://t.co/33Ge7Grwl5
30 Mar 15 14:46:45
[Key Gainers & Losers] + $TCK 3.75% 2/1/2023 +3.9% + $JPM 3.125% 1/23/2025 +0.6% - $GS 3.5% 1/23/2025 -0.8% http://t.co/BwNaUxntWh
30 Mar 15 14:05:07
$GS $AAPL: 5 Must-Know Facts About The Dow Jones Industrial Average: http://t.co/FpPLr48KbL
Mike Robinson
30 Mar 15 14:02:05
@JohnLBair1 Yep, you can feel it coming. He telegraphed it on Friday. I want >100$M. I want game changer= Big FU to $GS, $MS, naysayers.
  +Follow October 16, 2013 10:14AM



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