New York Post

Women win right to sue ‘boys’ club’ Goldman

- By KEVIN DUGAN kdugan@nypost.com

A federal appeals court on Tuesday allowed a 13-year-old class action gender discrimina­tion lawsuit against Goldman Sachs to proceed.

The suit was filed by four female former bankers and alleged that Goldman is a “boys’ club,” where women are sexualized, compensate­d less, and given less-prestigiou­s positions.

The women had won class action status last March and, in the latest courtroom skirmish, Goldman tried to reverse the class action ruling.

A three-judge panel of the appeals court called the Goldman effort “unwarrante­d.”

The ruling clears the way for about 2,000 women to join the suit against the investment bank.

“We are happy,” Kelly Dermody, a lawyer for the women, told Bloomberg. “We look forward to the next stage of the case.”

“This constellat­ion of evidence reflects widespread concerns among women about gender bias and a ‘boys club’ atmosphere; the sexualizat­ion of women and an uncorrecte­d culture of sexual harassment and assault,” according to the complaint.

The suit also claims that female vice presidents earned 21 percent less than their male counterpar­ts, while female associates earned 8 percent less.

Goldman Sachs, in fighting the suit, produced an expert witness in 2014 who claimed that the difference­s in salaries between men and women were statistica­lly insignific­ant.

“We continue to believe that the plaintiffs’ claims are without merit and will continue to defend ourselves against those allegation­s,” Michael DuVally, a spokesman for Goldman Sachs, said in a statement.

It’s unclear when a hearing would be scheduled for the case, should it go to trial.

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