Goldman Sachs has said it will pay $215 million to settle a long-running lawsuit against the investment bank, which has been accused of gender bias and sexual harassment by current and former employees.
The allegations in the suit included 75 counts of misconduct in the workplace — such as touching, inappropriate comments and requests for sex — as well as pay discrimination or denial of promotion to female employees based on gender.
The settlement covers approximately 2,800 women employed in specified banking, management and securities divisions from the early 2000s to March this year, according to a joint statement released Monday by lawyers for the bank and plaintiffs.
“As one of the original plaintiffs, I am proud to have supported this case without hesitation over the past nearly thirteen years and believe this settlement will help the women I had in mind when filing the case , ” plaintiff Shanna Orlich said in the statement .
A class action lawsuit initiated in 2010 was scheduled to begin on June 5 in New York.
“After more than a decade of vigorous litigation, the parties have agreed to settle this matter,” said Jacqueline Arthur, the company’s global head of human capital management.
As part of the settlement, an independent expert will conduct a performance evaluation analysis and will pay equity in Goldman Sachs for three years.
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