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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
ILKAY BODUROGLU
23 Oct 14 12:14:24
I shorted $GS 175 call #options expiring Oct31. The price was $5.90. I expect to close this bearish bet on or before Oct 31 with profit.
ILKAY BODUROGLU
23 Oct 14 12:00:50
I had shorted $GS 182.50 #put #options expiring Oct 31. Price I shorted was $6.45. I closed this bullish bet today @$3.00 w/ $345 #profit.
GoldmanSachs Careers
23 Oct 14 12:00:11
RT @GoldmanSachs: Novo site do $GS em português está no ar. Confira: http://t.co/bQjOyoqyfQ
Jeffrey C. McCracken
23 Oct 14 12:00:06
$GS hired to sell #AtlantaHawks; could fetch $750M. #NBA http://t.co/UulPSjn0US
Quantheta
23 Oct 14 12:00:03
#SENTISHIFTUP $HD $GTAT $FB $DAN $AAPL $QUAD $DJIA $GS $SKX $O #quantheta
DCarsonCPA_MA
23 Oct 14 11:53:05
RT @GoldmanSachs: Novo site do $GS em português está no ar. Confira: http://t.co/3fAc5oXuOq
Dean Carson CPA
23 Oct 14 11:53:05
RT @GoldmanSachs: Novo site do $GS em português está no ar. Confira: http://t.co/3fAc5oXuOq
DCarsonCPA_CATX
23 Oct 14 11:53:05
RT @GoldmanSachs: Novo site do $GS em português está no ar. Confira: http://t.co/3fAc5oXuOq
SocialImpactFinance
23 Oct 14 11:49:52
RT @GoldmanSachs: Novo site do $GS em português está no ar. Confira: http://t.co/3fAc5oXuOq
Forex Insight
23 Oct 14 11:49:42
RT @GoldmanSachs: Novo site do $GS em português está no ar. Confira: http://t.co/3fAc5oXuOq
Goldman Sachs
23 Oct 14 11:45:43
Novo site do $GS em português está no ar. Confira: http://t.co/3fAc5oXuOq
Investors Hangout
23 Oct 14 11:44:43
chartguy89: GS Stock Chart $GS $AAL $UA $MMM http://t.co/13gy2QQTfe
Investors Hangout
23 Oct 14 11:44:40
chartguy89: GS Stock Chart $GS $AAL $UA $MMM http://t.co/wn7n6RVvZM
Eternity101
23 Oct 14 11:31:03
$GS 181.09 hod - who down my stream ...said "no hell in chance will go to 182.50 this week ? ;)
Sentinus
23 Oct 14 11:25:20
RT @CGasparino: FBN NEWS: SEC likely to address #HFT as part of "holistic" market review; $GS leaning to "re purpose" its dark pool: http:/…
marcus baram
23 Oct 14 11:22:36
RT @CGasparino: FBN NEWS: SEC likely to address #HFT as part of "holistic" market review; $GS leaning to "re purpose" its dark... http://t.…
EZresearcher
23 Oct 14 11:21:49
RT @CGasparino: FBN NEWS: SEC likely to address #HFT as part of "holistic" market review; $GS leaning to "re purpose" its dark pool: http:/…
B G KRISHNA
23 Oct 14 11:21:40
RT @CGasparino: FBN NEWS: SEC likely to address #HFT as part of "holistic" market review; $GS leaning to "re purpose" its dark pool: http:/…
Charles Gasparino
23 Oct 14 11:21:30
FBN NEWS: SEC likely to address #HFT as part of "holistic" market review; $GS leaning to "re purpose" its dark... http://t.co/tWMJob18Dj
FOX Business
23 Oct 14 11:21:27
RT @CGasparino: FBN NEWS: SEC likely to address #HFT as part of "holistic" market review; $GS leaning to "re purpose" its dark pool: http:/…
Charles Gasparino
23 Oct 14 11:20:50
FBN NEWS: SEC likely to address #HFT as part of "holistic" market review; $GS leaning to "re purpose" its dark pool: http://t.co/yz7jjfLd9f
Investors Hangout
23 Oct 14 11:20:16
DennyT: IVV Income Statement $IVV $QLD $C $GILD $GS http://t.co/nIrQkiezaF
Investors Hangout
23 Oct 14 11:20:09
DennyT: IVV Income Statement $IVV $QLD $C $GILD $GS http://t.co/Xqqp0L6joe
chartguy89
23 Oct 14 11:13:47
GS Stock Chart $GS $AAL $UA $MMM http://t.co/8QnNTkP640 http://t.co/RQ2uExx7lc
Extreme Stocks
23 Oct 14 11:09:53
DennyT: IVV Income Statement $IVV $QLD $C $GILD $GS http://t.co/cNLf0ZVeD4
Craig Scott
23 Oct 14 11:09:04
$gs giddy up
DennyT
23 Oct 14 10:56:13
IVV Income Statement $IVV $QLD $C $GILD $GS Buy?,Current Price,High,Recent Headlines,On Alert Stock Quote http http://t.co/nbEzbw2Vxj
GS 10,000 Women
23 Oct 14 10:30:36
See how $GS #CommunityTeamworks volunteers in #Brazil mentored #10KWgrads on overcoming business challenges & more: http://t.co/bVkPXMCAFq
Stock Relay
23 Oct 14 10:23:53
$JNUG Yield Click Here: http://t.co/GNjlYI7NSB Also See: $SMH $GS $PAL $EWZ ~
maximus
23 Oct 14 10:16:43
$gs ...volume is alarming on this move up ...if it ever gets some conviction it could go crazy . if it doesnt bye bye
Eternity101
23 Oct 14 10:10:54
$GS 180 ??? oh wow... what are the chances of it hitting 182.50 by TOMORROW ? ;)
EN
23 Oct 14 10:03:06
$GS POP! Boom!
Quantheta
23 Oct 14 10:00:00
#SENTISHIFTUP $QUAD $DAN $GTAT $HD $NOW $AAPL $DJIA $ILMN $O $GS #quantheta
Gr8 Trades
23 Oct 14 09:54:45
$AAPL $AMZN $BIDU $FB $GILD $GMCR $GOOG $GPRO $GS $IWM $LNKD $MBLY $NFLX $PCLN $QQQ $SPY $TSLA $VXX 12:54:43 PM
Deppilf flippeD
23 Oct 14 09:33:13
Its amazing how $mon has been ahead of $SPY moves a couple days ahead. new canary in trading field? $GS $QQQ
maximus
23 Oct 14 09:31:54
impressive how $gs has gone litterally no where ,,,
Langan Stocks
23 Oct 14 09:23:23
$EUO Summary Click Here: http://t.co/sSE9ss5YuJ Also See: $GMCR $TSLA $GS $CNQ.TO ~
Richard Lopes-Slot
23 Oct 14 09:22:40
RT @GoldmanSachs: $GS Asia President Ken Hitchner welcomes @YaoMing to #GSAM Symposium in HK discussing #leadership on & off the court http…
Carolyn B Miciano
23 Oct 14 09:05:01
Killer monthly income strategy using spreads http://t.co/i8Sj1jelk2 $GS $COST $FDX
Reinman_MT
23 Oct 14 08:59:49
That was nuts, what’s next? Goldman edition, via FT Alphaville: http://t.co/0O6xeipFhR, Some interesting thoughts and observations fro $GS.
Fight Lobbyocracy
23 Oct 14 08:59:34
@onekade @emptywheel Too bad the FBI can't infiltrate crash causing financial records of US peeps like $GS because that's domestic terrorism
Trader
23 Oct 14 08:55:28
$TIBX $GS Tibco Software ALERT Andrews & Springer LLC Seeking More Cash for Shareholders of TIBCO Software, Inc http://t.co/5e1apmX6hj
lookn4wins
23 Oct 14 08:37:49
$NXPI Parabolic SAR $NXPI Most recent stock chart and technical analysis. $C $NUGT $XOP $TQQQ $GS $MU http://s http://t.co/UKxMzHSDwj
Leila Vered
23 Oct 14 08:28:11
RT @GoldmanSachs: $GS Asia President Ken Hitchner welcomes @YaoMing to #GSAM Symposium in HK discussing #leadership on & off the court http…
Carolyn B Miciano
23 Oct 14 08:27:11
All about Iron condors http://t.co/LSBar1HnIo $GS $COST $FDX
OTPicks.com
23 Oct 14 08:26:08
http://t.co/hjgLwIcNgz leahanne: $GS Goldman Sachs Group (GS) 179.24 +2.41: leahanne http://t.co/5adgACCwUf http://t.co/hjgLwIcNgz
Peter Pan
23 Oct 14 08:24:51
@Watchhimtrade I cause market squeeze $gs bought on my tweet lol ;)
Investors Hangout
23 Oct 14 08:24:28
leahanne: $GS Goldman Sachs Group (GS) 179.24 +2.41 http://t.co/bbVRcpymXR
Investors Hangout
23 Oct 14 08:24:28
leahanne: $GS Goldman Sachs Group (GS) 179.24 +2.41 http://t.co/tmUiAiKuZX
Tadas Viskanta
23 Oct 14 08:06:18
Asset managers are scrambling to buy their way into the ETF business. http://t.co/sBDcPRo2En (via @reuters) $JNS $TROW $GS
				
				
  +Follow October 16, 2013 10:14AM
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