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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
Jeff Davis
23 Apr 14 12:35:44
$GS looks like 164 coming..tough to crash if that happens
IG:wordsinwordsout
23 Apr 14 12:31:01
RT @ForTraders: Bank of New York Mellon : BNY Mellon Considers Sale of Corporate Trust Arm -Bloomberg http://t.co/xoDWYvEL6h $BK $GS
Market Int Center
23 Apr 14 12:30:29
Potential Goldman Sachs $GS Trade Has 2.74% Downside Protection ( http://t.co/fYEXVnFS9D )
Bidness Etc
23 Apr 14 12:30:28
Analysts at $GS expect $AAPL to report revenues of $43.8 billion http://t.co/529Po9SebG
Bidness Etc
23 Apr 14 12:27:42
$FB's Ad revenues by the $GS are estimated at $2.11 billion with mobile ad revenues contributing $1.14 billion http://t.co/phIdOWexyf
Bidness Etc
23 Apr 14 12:10:27
$GS estimated revenues of $2.34 billion for $FB, with a non-GAAP EPS of 23 cents http://t.co/46x4AmhGp7
4-traders.com
23 Apr 14 11:50:02
Bank of New York Mellon : BNY Mellon Considers Sale of Corporate Trust Arm -Bloomberg http://t.co/xoDWYvEL6h $BK $GS
apppro
23 Apr 14 11:40:32
Yeah they fixed the prices LOWER! STUPID! Goldman, JPMorgan seek dismissal of aluminum price-fixing lawsuits http://t.co/om9GmAAJ1c $JPM $GS
Bishop SheltonDaniel
23 Apr 14 11:37:23
#Buy $DNAX #DNA #Energy #Drinks #New #CEO #Real #Experience > $FNMA $HEMP $PMCM $PHOT $PLPL $CBIS $JPM $GS $MS $TSLA $FB $TWTR $GOOG $MSFT
4-traders.com
23 Apr 14 11:30:05
Goldman Sachs : , JPMorgan seek dismissal of aluminium price-fixing lawsuits http://t.co/fUsVvdpCR2 $GS $JPM
PVBTrader
23 Apr 14 11:29:31
$GS wants it, she really wants it
Cesar
23 Apr 14 11:29:02
@RedDogT3Live @GuyAdami @CNBCFastMoney $C $BAC $GS.. ALL HOD.. Tell??
Media Sentiment
23 Apr 14 11:21:56
$GS received a new alert. Find out why at http://t.co/WHJp8eTsSr #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 515
Eternity101
23 Apr 14 11:21:49
RT @ACInvestorBlog: $GS perking up
Brooke Sutherland
23 Apr 14 11:21:27
$BK said to work with $GS on finding buyers for its corporate trust business: http://t.co/pvASce3e9w by @MattMonks123
Duane Christie
23 Apr 14 11:20:52
@talktoskirt Jesus will take over for Lloyd at $GS and continue to do god's work.
Stockcoven
23 Apr 14 11:17:30
Banks holding nicely $GS $BAC
Antonio Costa
23 Apr 14 11:15:09
$GS perking up
Golden State SEO
23 Apr 14 11:12:55
RT @GoldmanSachs: 25 ways $GS saw the world change: No. 25 The importance of environmental risk management is increasing: http://t.co/FRRgA…
Golden State SEO
23 Apr 14 11:12:40
RT @GoldmanSachs: 25 ways $GS saw the world change: No. 5 #Mobile presents big commercial opps, but competition is tough: http://t.co/u8Afk…
Shahien Nasiripour
23 Apr 14 11:11:25
RT @MattMonks123: Bank of New York Mellon $BK taps $GS to shop corporate trust arm worth at least $2.5B scoop @MattMonks123 @BloombergNews
Matthew Monks
23 Apr 14 11:07:25
Bank of New York Mellon $BK taps $GS to shop corporate trust arm worth at least $2.5B scoop @MattMonks123 @BloombergNews
shagarie ®aynor
23 Apr 14 11:07:07
$GS commodity-trading unit poised to gain market share as pressure from regulators drives competitors to scale back http://t.co/k51Wbcu429
Mark Moskowitz
23 Apr 14 11:06:12
Taking profits on $GS, no desire to be long anything, 1 point on a long today is great
Stock_Ninja
23 Apr 14 11:04:52
$GS at resistance and looking poised to bust through :-)
CABuyer
23 Apr 14 11:02:06
$GS The closest thing to a sure thing for your money http://t.co/mQhwBsxINj
z
23 Apr 14 10:45:56
OMG! this market is going HIGHER! $SPX $SPY $DIA $IWM $QQQ $FB $TWTR $AMZN $IMPV $SCTY $NFLX $F $C $GS
Mark Moskowitz
23 Apr 14 10:29:43
$GS working well, I hope you got some
Robin Cage
23 Apr 14 10:29:41
Get Free research on $BMS $GS $G $GOOG I suggest http://t.co/p3LoBF5Wju
ProbabilityOne
23 Apr 14 10:23:52
RT @ACInvestorBlog: $GS If it breaks out above $161.12 the stock has plenty of room to run up to at least $168 http://t.co/lqdU89KRxZ
ProbabilityOne
23 Apr 14 10:23:32
RT @rblotnicky: Goldman to profit as competitors exit commodities http://t.co/MLWnQYfgbW $GS
StockNews24
23 Apr 14 10:21:29
$GS - Cree weakness a buying opportunity, says Goldman at Goldman -> http://t.co/KprleFK6Od #stock #stocks #stockaction
StockNews24
23 Apr 14 10:21:11
$GS - Numericable Raises $10.9 Billion in Junk Bond Offering -> http://t.co/nhAYNAPDOz #stock #stocks #stockaction
Art Baron
23 Apr 14 10:16:05
MT @GoldmanSachs 25 ways $GS saw the world change: No. 9 #Smartgrid tech increasing efficiency &.... #GSAnnual2013: http://t.co/6TJsr7jfuw
Art Baron
23 Apr 14 10:14:08
RT @GoldmanSachs: WATCH: "We're in a global shift toward #renewable sources of energy" – $GS's Stuart Bernstein. http://t.co/CSxUbCitmp #cl…
PVBTrader
23 Apr 14 10:13:38
Watching $GS here, over 161 can move a little
Shaun Downey
23 Apr 14 10:12:49
"@ACInvestorBlog: $GS $C $JPM nice action in a weak tape"
aznboi27
23 Apr 14 10:03:57
$GS went red to green. Market feeling a little bullish again
Antonio Costa
23 Apr 14 09:58:28
$GS If it breaks out above $161.12 the stock has plenty of room to run up to at least $168 http://t.co/lqdU89KRxZ
Antonio Costa
23 Apr 14 09:53:49
$GS $C $JPM nice action in a weak tape
Heath Sterling
23 Apr 14 09:52:20
RT @stock_coach: $TSLA puts, $SPY puts, $GS puts $NFLX puts all money makers. It's just too easy when you have the right teacher. http://t.…
Master Muppet
23 Apr 14 09:49:05
Goldman to profit as competitors exit commodities http://t.co/MLWnQYfgbW $GS
Gary Hudson
23 Apr 14 09:46:36
Goldman to profit as competitors exit commodities $GS http://t.co/LEyNAbqK4c
MarketCurrents
23 Apr 14 09:42:39
Goldman to profit as competitors exit commodities http://t.co/AbcfmG1ban $GS
CABuyer
23 Apr 14 09:40:05
$GS Why Credit Is Key for the Housing Recovery http://t.co/38aLV4dCQT
danrocks
23 Apr 14 09:37:37
$PFE Is this one to watch? $ISRG $GS $LWSP $BBEP $UUP http://t.co/mOl9AJnyO1
Algo Screen
23 Apr 14 09:32:18
#UnitedStates - $GS #Goldman_Sachs_Group_Inc / 8 long patterns with success >=82.5% and a return of >=1.1%. #Stock #Stocks #StockAction
Ayodeji Balogun
23 Apr 14 09:30:14
RT @BloombergNews: As competitors scale back, Goldman looks to gains market share in commodities; http://t.co/Z0Y8zSVMlT $GS http://t.co/He…
chartguy89
23 Apr 14 09:25:50
GFI Stock Chart $GFI $XLK $GS $BHP http://t.co/dPfSTrq3FH http://t.co/oU9V97epmw
				
				
  +Follow October 16, 2013 10:14AM
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