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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)

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for gs
Leni
24 Nov 14 08:39:35
$GS long new 189.81
V.S. Schulz
24 Nov 14 08:36:24
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Adriana Love
24 Nov 14 08:35:30
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Jenee Lemons
24 Nov 14 08:31:18
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NYC Voices
24 Nov 14 08:30:56
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PennyStock Zone
24 Nov 14 08:23:56
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Half Full Publishing
24 Nov 14 07:47:11
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24 Nov 14 07:38:30
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The Fly
24 Nov 14 07:35:03
Goldman Sachs becomes the largest strategic investor in Kensho with $15M investment. Details for subscribers: http://t.co/EkGrkyPXb0 $GS
FinSentS SP500
24 Nov 14 07:19:12
$GS:US US to lead globally India, China star among BRICS: Goldman #GOLDMAN SACHS GROUP INC http://t.co/QcW7HokFFu #SP500
Ruth Patrick
24 Nov 14 07:16:47
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Jaron Southern
24 Nov 14 07:11:51
$WOOF Todays movers to research $GS $SPLS $ARNA #NSE http://t.co/6b7h4l3J1p
TraderMinute
24 Nov 14 07:01:51
$MS $GS still in consolidation, think banks will be consolidating for a while yet $XLE $KRE
BuckarooTrades
24 Nov 14 06:49:36
$GS bot 187.5p Dec1 @ 1.20
FERRIGESTION
24 Nov 14 06:43:35
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Green Rush 14
24 Nov 14 06:42:57
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Camilla Marr
24 Nov 14 06:40:14
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Trystan King
24 Nov 14 06:37:52
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Mauricio Carrillo
24 Nov 14 06:23:22
US stocks point to open higher; Goldman Sachs $GS erases Costco $COST from your Buy conviction list
Brysen Upchurch
24 Nov 14 06:14:49
$CST Should you buy $GS $AAPL $AIG Try this http://t.co/CHydX6rCFQ
Lynetta Horn
24 Nov 14 06:12:55
Wow. Great #Stock #Research on $CLWR $KAR $GS $RT View now http://t.co/gAEddF4XHM
Jennifer Schonberger
24 Nov 14 06:07:10
Accding to $GS median stock in the S&P trades @ a FORWARD P/E of 17X vs 12.6X on ave historically-w Fed set to raise rates cld be bumpy 2015
Who wants to know?
24 Nov 14 06:04:17
RT @sanglucci: Thanksgiving Around The Corner - AM Watchlist 11/24/14 http://t.co/kEfSVJDVKD $SPY $BAC $GS $AMZN $GOOG http://t.co/1cwKQmB…
moderneconomist.com
24 Nov 14 05:53:07
RT @sanglucci: Thanksgiving Around The Corner - AM Watchlist 11/24/14 http://t.co/kEfSVJDVKD $SPY $BAC $GS $AMZN $GOOG http://t.co/1cwKQmB…
Sang Lucci
24 Nov 14 05:49:30
Thanksgiving Around The Corner - AM Watchlist 11/24/14 http://t.co/kEfSVJDVKD $SPY $BAC $GS $AMZN $GOOG http://t.co/1cwKQmB4br
Mauricio Benjamin
24 Nov 14 05:48:39
Here are some Stocks to Watch $GS $HPT $JNPR $RT #personalfinance http://t.co/7UjHftNDDH
Eternity101
24 Nov 14 05:31:49
$GS 190.00 (bid) x 191.50 (ask) -- don't forget ex-divvy day -- http://t.co/3M0YRHJOnE Nov the 28th (short trading day also)
investor wired
24 Nov 14 05:30:27
High EPS Stocks in Review: http://t.co/rIkEIOUxBX $DKS $DG $GS $GMED
swells
24 Nov 14 05:28:12
RT @thelidlives: Guess $GS getting killed on that $cbi short
Lyndsay Fitzsimmons
24 Nov 14 05:25:48
Shoud you sell or hold stocks like $GS $SE $CNP $S Try this http://t.co/Kg19fHppX3
Gita Hawkins
24 Nov 14 05:22:45
Should you buy $GS $NSR $RRD $CHTP #NASDAQ http://t.co/C3RZdHVXMz
thelidlives
24 Nov 14 05:22:11
Guess $GS getting killed on that $cbi short
Mark L. Morelli
24 Nov 14 05:14:30
RT @Consestimate: Apple Inc. Is Top Holding Among Hedge Funds. $AAPL, $GS, $FB. http://t.co/lGHbZkaDKE http://t.co/lQ3eZE5qkw
Ben Silverberg
24 Nov 14 05:06:53
$CBI down -2.0% in PreM trading and $JEC were both downgraded to 'Sell' from 'Neutral' at $GS; No Positions
Consestimate
24 Nov 14 05:03:45
Apple Inc. Is Top Holding Among Hedge Funds. $AAPL, $GS, $FB. http://t.co/lGHbZkaDKE http://t.co/lQ3eZE5qkw
Carolyn B Miciano
24 Nov 14 04:59:18
All about the Bull call spread http://t.co/p9KeWdiLwS $GS $COST $FDX
Chin Keane
24 Nov 14 04:53:20
#Stocks to hold onto $BRCD $COO $GS $PCLN #newsletter http://t.co/MkpVmPVjqJ
David Nelson
24 Nov 14 04:52:26
$GS Credit out this morning on Oil Co Debt - Debt reduction strategic priority - Outlook offshore drillers opaque $XLE $OIH
Helena Sasser
24 Nov 14 04:48:45
Dont want to lose like you did with $DOV $GS $APC $CI #Stock http://t.co/jogju7p0V3
4-traders.com
24 Nov 14 04:45:05
Senate Homeland Security and Governmental Affairs Subcommittee on Investigations Hearing http://t.co/hjBGp2tWp3 $GS $JPM $MS
Ted Dunne
24 Nov 14 04:36:17
Can Bloomberg be disrupted? Goldman Sachs Leads $15 Mln Round In Financial Data Tech #Startup Kensho http://t.co/QOwt3zzzpB $GS
Eternity101
24 Nov 14 04:34:29
RT @JackDamn: Good morning. Starting the day holding $AMGN (stop 159.84 vs target 181.90). Large Caps on watch. $BAC $LMT $GS. ETFs: $OIH.
Jack Damn
24 Nov 14 04:32:18
Good morning. Starting the day holding $AMGN (stop 159.84 vs target 181.90). Large Caps on watch. $BAC $LMT $GS. ETFs: $OIH.
4-traders.com
24 Nov 14 04:30:02
Goldman Sachs : Investment banks forecast more rate cuts, despite Poland dodging recovery upset http://t.co/H5Ow2FeXQ6 $GS
Ben Silverberg
24 Nov 14 03:42:58
$GS downgraded $ULTA to Neutral citing valuation but raised PT to 132.00 from 122.00; believes the company remains well positioned.
Maleah
24 Nov 14 03:23:20
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PennyStock Zone
24 Nov 14 03:03:15
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Alexandre Quillet
24 Nov 14 01:28:48
RT @ABaradez: Goldman Sachs anticipe un #QE de la #BCE au 1er semestre 2015... #ECB $GS
Vincent Branchet
24 Nov 14 00:59:53
RT @ABaradez: Goldman Sachs anticipe un #QE de la #BCE au 1er semestre 2015... #ECB $GS
Pierre Carlier
24 Nov 14 00:50:16
RT @ABaradez: Goldman Sachs anticipe un #QE de la #BCE au 1er semestre 2015... #ECB $GS
				
				
  +Follow October 16, 2013 10:14AM
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