Women at Goldman Sachs have been assaulted and harassed by male bosses for years: a lawsuit

Dozens of women who have worked at Goldman Sachs for more than a decade have unearthed new accusations of how they were subjected to years of discrimination, sexual harassment and sexual assault by male managers at the Wall Street giant.

Explosive allegations in newly discredited court documents, released Thursday by attorneys representing about 1,400 plaintiffs who have filed a sex discrimination class action, detail lewd and criminal behavior by the company’s top bankers.

A judge has set Thursday, June 5, 2023, as a trial date for the Southern District of New York in the year-long litigation.

The documents list at least 75 reported cases of sexual misconduct by male principals as well as seven criminal complaints alleging serious crimes including rape, attempted rape and sexual assault.

The company has also been accused of issuing warnings to managers despite repeated complaints from subordinates.

The court papers allege: “For example, a manager took his female employee to the floor of an abandoned office and offered her sex.” Then “the male manager called her separately and said he was masturbating to the sound of her voice.”

“He also insisted that she come to his apartment, where he showed her pictures he had taken of other female Goldman employees in underwear,” the complaint read.

Christina Chin-Oster, a former Goldman vice president, alleges that she was sexually assaulted by a male co-worker.
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Lawyers issued internal complaints lodged with Goldman officials between 2000 and 2011, which describe how a manager was said to have told a subordinate that “with that feisty nature, you’d be good in bed.”

Another Goldman manager told a subordinate he loved her, and repeatedly made sexually suggestive comments and gestures during his business trips, the lawsuit alleges.

According to the court papers, the woman was quoted as saying, “I was talking to this guy who had just been promoted to vice president… I told him how he made me feel uncomfortable how men were touching me, he was really supportive and giving me advice on what to do, the next thing I know His hand is in my ass, too!”

Workers cross the street at the Goldman Sachs headquarters in New York
“The plaintiffs’ submission of complaints does not reflect the reality at Goldman Sachs,” a spokesperson said.
Bloomberg via Getty Images

A Goldman Sachs spokesperson told The Post: “The plaintiffs’ submission of complaints does not reflect the reality at Goldman Sachs. Many are two decades old and have been submitted selectively, inaccurate and incomplete.”

“Discrimination, harassment and abuse in any form are unacceptable at Goldman Sachs, and when identified, prompt action is taken, including termination,” the spokesperson added.

“Out of respect for the people involved, we will not comment on individual complaints.”

Court documents go on to list other cases of unwanted touching. One employee is said to have shown his co-workers a sex tape he had made with an unidentified woman, then “perpetuating the rumors that the woman was a co-worker”.

The lawsuit alleges that at least seven criminal complaints alleging sexual assault, attempted rape or rape have been filed by male Goldman employees.

One employee alleged that she was drugged and raped by an employee after a baseball game.

Alison Gamba claimed she was passed over for a promotion despite being a high-performance Goldman trader on the New York Stock Exchange.
Alison Gamba claimed she was passed over for a promotion despite being a high-performance Goldman trader on the New York Stock Exchange.
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The suit also alleged that a male manager harassed, harassed, and suggested a female subordinate had sex during a mentoring retreat.

After she refused his requests, he followed her to her room and tried to sleep with her, not leaving her alone until she could close the door, according to the lawsuit.

The court documents also claim that Goldman is “aware of these issues” and that it “tolerates managers who engage in gender stereotyping, sexual harassment, and/or gender favoritism.”

One employee claims that it is “widely known” that the “co-managing director” was “unsuitable for young women” and that “other women have had inappropriate experiences with [him]’, and that she was ‘afraid of being alone with him’.

The documents go on to list other alleged incidents, including one in which the company offered only a “verbal warning” to a male manager who was said to have touched his assistant.

Shana Orlich claims that Goldman managers will hire escorts to wear tight clothes during company parties.
Shana Orlich claims that Goldman managers will hire escorts to wear tight clothes during company parties.
goldmanangercase.com

Another man linked has been released with a “stern written warning” after he spread a rumor about a sex tape.

“In fact, perpetrators of sexual harassment have either been promoted to higher management positions or allowed to remain in higher management positions,” according to attorneys representing the plaintiffs.

One of three specific plaintiffs who brought a lawsuit against Goldman, Christina Chin-Oster, first made her allegations public in 2005.

The MIT graduate who rose to become Goldman’s vice president alleged that a co-worker pinned her to a wall and pushed his hand down her blouse while trying to force himself on it.

sexual harassment complaint form
The court documents also claim that Goldman is “aware of these issues” and that it “tolerates managers who engage in gender stereotyping, sexual harassment, and/or gender favoritism.”
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Court papers allege that even after the company was informed of the incident, her assailant was promoted to managing director.

The other plaintiffs mentioned in the case are Alison Gamba and Shana Orlich.

Gamba claims she was passed over for a promotion despite making a record $9.5 million as a Goldman trader on the New York Stock Exchange while less qualified male colleagues were in rank and paid.

When she pulled her boss aside and asked if he had nominated her for the position of general manager, she said he told her, “I would have been a laughingstock if I had nominated you.”

“I knew I wasn’t going to get a promotion anymore,” Gamba told Vox in 2019.

Newly revised court documents list at least 75 reported cases of alleged sexual misconduct between 2000 and 2011.
Newly revised court documents list at least 75 reported cases of alleged sexual misconduct between 2000 and 2011.
SOPA/LightRocket Images via Gett

“My head was on the glass ceiling.”

Orlich worked for Goldman as a partner who traded distressed credit. She alleged her manager hired prostitutes who “wear black mini skirts, strapless tops, and Santa Claus hats” to a holiday party.

Last month, former Goldman banker Jamie Fiore Higgins released memos alleging the investment bank’s Manhattan headquarters was so misogynistic that a colleague kept a spreadsheet rating female recruits on “competitiveness,” declaring, “I want size and shape.” .”

Higgins, 46, of Somerset County, New Jersey, wrote that a co-worker told her she was promoted “because of her vagina” and that she was the target of Moe’s voices from co-workers who mocked her weight after she gave birth to her fourth child.

Goldman Sachs headquarters
A judge has set a trial date for June 5, 2023 in the US Southern District of New York in the year-long litigation.
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On another occasion, she claimed, she was violently hung on the wall by a colleague “wrapped [his hand] around my jaws” and threatened her as she hung in the air.

Higgins is the author of Bully Market: My Story of Money and Misogyny at Goldman Sachs, which is currently an Amazon bestseller in the Financial Services Industry category.

The investment bank provided a statement to The Post that said: “Had Ms Higgins raised these allegations with our Human Resources department at the time, we would have thoroughly investigated and treated them seriously.”

“We have a zero-tolerance policy for discrimination or retaliation against employees who report misconduct.”

A Goldman spokesperson also noted that Higgins writes in the “Author’s Note” portion of the book that “the Goldman Sachs individuals referred to are composite characters.”

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