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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
Investors Hangout
27 May 15 12:42:05
OPXA Opexa Therapeutics, Inc. Day Low http://t.co/fvLikoWkSe $OPXA $KO $DEPO $GS #OPXA #stockmarket #investing
27 May 15 12:41:07
MBLY Mobileye NV Financials http://t.co/woS9GaqfHE $MBLY $GS $XLP $SPXU #MBLY #finance #nasdaq
27 May 15 12:41:06
FLIR FLIR Systems, Inc. 52Wk High http://t.co/6k29cwuUUF $FLIR $GS $XHB $ELR.TO #FLIR #nasdaq #pennystocks
Lucky Jimmy
27 May 15 12:40:37
NBG National Bank Of Greece Stock Message Board http://t.co/rm635sbKcP $NBG $GOOG $GS $UPRO #NBG #tradeideas #finance
IH News Desk
27 May 15 12:40:06
FAC First Acceptance Corp. Yield http://t.co/lKgR0XQWmx $FAC $DBC $TDG $GS #FAC #investing #stock
27 May 15 12:40:05
IYT iShares DJ Transportation Average Index Fund Dividend http://t.co/crs6wDwQE0 $IYT $TZA $UVXY $GS #IYT #share #tradeideas
27 May 15 12:39:35
MCR MFS Charter Income Fund Last Price http://t.co/8oO5cBNkbF $MCR $TLT $FXE $GS #MCR #stock #stockmarket
Rosner Stocks
27 May 15 12:39:19
INTC Intel Corp. Stock Forum http://t.co/IKAHZAUGWe $INTC $AVGO $HD $GS #INTC #stocks #stocks
27 May 15 12:39:04
GS Goldman Sachs Group, Inc. Summary http://t.co/xq1aw2hOiL $GS $COST $FV $MCP #GS #tradeideas #stockmarket
27 May 15 12:38:07
GS Goldman Sachs Group, Inc. Tick http://t.co/6PlbZeW76b $GS $REVO $IEF $ONTY #GS #stock #pennystocks
27 May 15 12:38:07
GS Goldman Sachs Group, Inc. Financials http://t.co/miEpZNIz8M $GS $OIH $TWTR $DIS #GS #investing #nasdaq
27 May 15 12:38:07
GS Goldman Sachs Group, Inc. % Change http://t.co/gOfjrdoGRu $GS $FEYE $OPXA $SOXL #GS #share #pennystocks
27 May 15 12:38:06
GLD SPDR Gold Trust Shares Volume http://t.co/NtcApRGjix $GLD $YOKU $GS $COST #GLD #pennystocks #pennystocks
27 May 15 12:37:28
$GS +4.02% Will probably book this tomorrow if we get a good move. Will get back in after next pb
Stock Forums
27 May 15 12:37:07
DRT.TO DIRTT Environmental Solutions Ltd. Last Price http://t.co/Eht59mMeIE $DRT.TO $CORN $GS $DAL #DRT.TO #nasdaq #stockmarket
27 May 15 12:36:52
DIA SPDR DJ Industrial Average ETF Trust Ask Size http://t.co/Lfhvb7gMZf $DIA $GS $ELLI $HW #DIA #nasdaq #tradeideas
27 May 15 12:36:38
EXEL Exelixis, Inc. % Change http://t.co/aMmc1qLFn7 $EXEL $SHAK $ITB $GS #EXEL #invest #share
27 May 15 12:36:36
FEYE FireEye Inc. Current Price http://t.co/jTkzOIoUV0 $FEYE $UNG $GS $XLY #FEYE #share #investing
27 May 15 12:36:35
GS Goldman Sachs Group, Inc. Chart http://t.co/cdTPp98nxa $GS $SCTY $ISR $RTH #GS #nasdaq #stocks
27 May 15 12:36:35
GS Goldman Sachs Group, Inc. Exchange http://t.co/8SL0KkHDyg $GS $UNP $AGEN $CYBR #GS #pennystocks #nasdaq
Lucky Jimmy
27 May 15 12:36:10
GS Goldman Sachs Group, Inc. Market Cap http://t.co/FFfejTLVWr $GS $AAPL $SMH $TCK/B.TO #GS #pennystocks #nasdaq
27 May 15 12:36:08
DWTI VelocityShares 3x Inverse Crude ETN Current Price http://t.co/Zfg1P2u1qs $DWTI $UUP $RMBS $GS #DWTI #finance #share
27 May 15 12:36:05
CTCM CTC Media Inc. Stock Forum http://t.co/FD8BR5dzYR $CTCM $FXY $GS $HYB #CTCM #nasdaq #nasdaq
UBS TrendRadar CH
27 May 15 12:34:41
Mittelfristiges Signal! $GS: Ein Trendkanal wurde bei 209.16 USD nach oben durchbrochen: http://t.co/qcXiyOKIsV
Investors Hangout
27 May 15 12:34:38
CPG.TO Crescent Point Energy Corp. Ask http://t.co/tmsnhN6LqD $CPG.TO $GIMO $GEOS $GS #CPG.TO #nasdaq #share
27 May 15 12:33:21
CEMP Cempra, Inc. Filings http://t.co/Ry67u71Nb4 $CEMP $GS $EPAM $NSIT #CEMP #finance #stock
27 May 15 12:32:08
ABBV AbbVie Inc. Last Price http://t.co/nFJixHZRMp $ABBV $UGAZ $GBSN $GS #ABBV #stocks #invest
Lucky Jimmy
27 May 15 12:31:41
ACT Actavis, Inc. P/E Ratio http://t.co/6eNheImsCl $ACT $RSX $IWM $GS #ACT #share #invest
27 May 15 12:28:42
Goldman Sachs Group Inc. (GS) At 52 Week High. http://t.co/BnxvwIIoHk $GS #investor #stocks #investing
27 May 15 12:26:42
RT @DanZanger: A good move in $GS helps this market
Scott Spencer
27 May 15 12:25:36
$BABA +1% $92.99 LONG $GS updates list of most-held hedge fund names... http://t.co/5dkwcFg1Xh
Carleton English
27 May 15 12:25:25
RT @ErwinEichmann: @TheStreet gets into the $GS inner sanctum, courtesy @carletonenglish https://t.co/ot9lS0EFYG
27 May 15 12:24:46
$GS ridiculously strong. $AAPL like y'day didn't even happen. $AGIO $AVGO $NFLX $AMZN performing well. This all helps market.
TV_Trading Ideas
27 May 15 12:24:44
Strongest bank out of the \u2026 $GS http://t.co/Ld7IrKquz1
27 May 15 12:24:27
$GS Quiet giant.
27 May 15 12:24:21
@fitzstockcharts I'm still holding my Jun 195 calls in $GS. Would it make sense to close my position before they pay the dividend tomorrow?
Erwin Eichmann
27 May 15 12:24:21
@TheStreet gets into the $GS inner sanctum, courtesy @carletonenglish https://t.co/ot9lS0EFYG
Dan Zanger
27 May 15 12:23:57
A good move in $GS helps this market
Breaking News Now
27 May 15 12:23:02
$GS: Why Does JC Parets Not Like Goldman Sachs?: http://t.co/8LJf3FerCl
Bruce H Snyder
27 May 15 12:20:24
$GS $0.65 div tomorrow. Watch for early assignment of short ITM Calls, esp May29th 205, Jun 197.5, Jul 185, Jan 155, and below. S=$209.64
Javier Hasse
27 May 15 12:17:52
Why Does JC Parets Not Like Goldman Sachs? $GS http://t.co/76LdZnATzw via @benzinga
27 May 15 12:17:13
Markets don't breakdown when $GS is constantly making new multi-year highs. I don't care what the Transports are doing.
27 May 15 12:15:51
$GS up over 21% from the dip 3 months ago, nice way to BTFD, but for how much longer?
Alan Farley
27 May 15 12:15:22
Have only seen the $GS trade mentioned once on my stream. Please keep on not seeing it.
27 May 15 12:07:03
$GS - Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) http://t.co/6kXjMVyOr2
James DiPlata
27 May 15 12:01:40
RT @IHNewsDesk: XLV Health Care Select Sector SPDR Filings http://t.co/nLvgK0oIqF $XLV $GS $MBLY $BABA #XLV #share #tradeideas
Half Full Publishing
27 May 15 12:01:28
WATCH: Here's a lousy $863,309 advisor managed portfolio http://t.co/ovRVaNzrcB $LPLA $MS $GS #PortfolioReportCard
Portfolio Talk
27 May 15 12:01:23
WATCH: Here's a lousy $863,309 advisor managed portfolio http://t.co/z0upFUFo1Y $LPLA $MS $GS #PortfolioReportCard
Ron DeLegge
27 May 15 12:01:20
WATCH: Here's a lousy $863,309 advisor managed portfolio http://t.co/T8lmTg7qxo $LPLA $MS $GS #PortfolioReportCard
27 May 15 11:58:02
$GS - Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) http://t.co/beo1O5cYvr
  +Follow October 16, 2013 10:14AM



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