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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
Claudia Borg
31 Aug 15 01:24:36
RT @GoldmanSachs: $GS is proud to host the @TriumphGames15 Opening Ceremony & support our #veterans http://t.co/EvxmeKVtlJ http://t.co/aSPh…
Timothy Reazor
31 Aug 15 01:21:20
Well it's official...Even Goldman thinks #China is slowing ... $GS cc @1DannyStewart @DanCofall http://t.co/BCutGvkeSh
IH News Desk
31 Aug 15 00:46:35
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Stock Forums
31 Aug 15 00:46:08
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Investors Hangout
31 Aug 15 00:46:07
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31 Aug 15 00:44:34
LUV Southwest Airlines Co. Exchange http://t.co/GTX8J6uM5B $LUV $GS $VNR $CUKS.L #LUV #nasdaq #nasdaq
31 Aug 15 00:44:03
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KO Coca Cola Co. Investor Opinions http://t.co/QvhJdnWCh4 $KO $GS $AVGO $VG #KO #finance #investing
Stock Forums
31 Aug 15 00:43:10
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Rosner Stocks
31 Aug 15 00:41:35
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31 Aug 15 00:41:07
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Lucky Jimmy
31 Aug 15 00:41:05
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Mr. Kim
31 Aug 15 00:40:47
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31 Aug 15 00:40:35
GS Goldman Sachs Group, Inc. Day Low http://t.co/SzRViiPtnq $GS $SUNE $FXY $INFY.IN #GS #nasdaq #pennystocks
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31 Aug 15 00:40:17
GS Goldman Sachs Group, Inc. Day High http://t.co/gta3NTR1S9 $GS $EFOI $LITE $SLV #GS #pennystocks #nasdaq
31 Aug 15 00:40:16
GS Goldman Sachs Group, Inc. Chart http://t.co/5f3yvOKcwr $GS $HPP $TSO $BIS #GS #stocks #share
31 Aug 15 00:39:04
FAGIX Fidelity Capital and Income Fund Current Price http://t.co/cLyGDf1p03 $FAGIX $GS $GILD $SPXU #FAGIX #stock #nasdaq
Lucky Jimmy
31 Aug 15 00:39:03
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31 Aug 15 00:39:03
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Rosner Stocks
31 Aug 15 00:38:34
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IH News Desk
31 Aug 15 00:38:05
FB Facebook, Inc. Last Price http://t.co/wFkSdyMaii $FB $EWZ $GQ.V $GS #FB #investing #invest
31 Aug 15 00:37:10
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31 Aug 15 00:37:05
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Stock Forums
31 Aug 15 00:35:59
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31 Aug 15 00:35:38
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Stock Forums
31 Aug 15 00:33:59
BP BP Amoco PLC Summary http://t.co/ORHUoa41vv $BP $GS $NWBO $BTU #BP #stockmarket #nasdaq
Dow Stocks
31 Aug 15 00:17:38
#Dow #stocks $GS Goldman Sachs Daily:-0.77% Weekly:0.01% YTD:-2.83% Trend:32 / 100 http://t.co/m75xjhRdrr
Options Answers
30 Aug 15 23:57:00
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30 Aug 15 23:43:32
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Lucky Jimmy
30 Aug 15 23:40:10
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30 Aug 15 23:34:24
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skater lauren
30 Aug 15 23:07:02
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IH News Desk
30 Aug 15 22:40:05
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Stock Forums
30 Aug 15 22:38:04
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30 Aug 15 21:56:46
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30 Aug 15 21:50:04
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30 Aug 15 21:49:20
VZ Verizon Communications Bid Size http://t.co/zbnEBImwCI $VZ $GS $BAC $EOX #VZ #nasdaq #finance
30 Aug 15 21:47:05
THLD Threshold Pharmaceuticals Inc. Change http://t.co/aaSJ2gNvCf $THLD $GS $DIS $JNUG #THLD #stocks #stock
Stock Forums
30 Aug 15 21:47:04
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Lucky Jimmy
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SH ProShares Short S&P 500 Fund Exchange http://t.co/33NLSk2Es7 $SH $GS $AQXP $BIOS #SH #invest #stocks
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SDS ProShares Ultra Short S&P 500 EOD Data http://t.co/mrutbppt9O $SDS $TCK/B.TO $GS $PG #SDS #stockmarket #investing
30 Aug 15 21:44:05
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30 Aug 15 21:43:35
MTSL MER Telemanagement Solutions Ltd. Day Low http://t.co/vwdjMoOnBZ $MTSL $GOLD $GS $HXU.TO #MTSL #investing #nasdaq
  +Follow October 16, 2013 10:14AM



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