Goldman Sachs accused of 'systemic sex discrimination'

16 September 2010

A trio of women who used to work at Goldman Sachs have taken the investment bank to court after accusing it of gender discrimination.

Former vice-president H Cristiana Chen-Oster, ex-managing director Lisa Parisi and past associate Shanna Orlich claim they had fewer opportunities for promotion than men, as well as being paid less by the firm, reports Bloomberg.

"The violations of its female employees' rights are systemic, are based upon company-wide policies and practices, and are the result of unchecked gender bias that pervades Goldman Sachs' corporate culture," said their complaint.

Damages are being sought by the trio, as well as a court order forcing Goldman Sachs to end its "systemic sex discrimination".

The women are seeking class action status for the case so they can represent all female Goldman Sachs employees in the positions they previously held.

Earlier this month, Goldman Sachs was fined £17.5 million ($27.3 million) by the UK's Financial Services Authority for not disclosing to the regulator that it was facing a fraud investigation from the Securities and Exchange Commission.

By Gary Cooper

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