More than a decade ago, dozens of women employed at Goldman Sachs revealed new accusations that they had suffered years of discrimination, sexual harassment and sexual assault from the giant’s male managers. Wall Street.
Explosive allegations in newly unredacted court documents, released Thursday by lawyers representing some 1,400 plaintiffs who have filed a sex discrimination class action lawsuit, detail the lewd and criminal behavior of the company’s senior bankers.
A judge set a trial date for June 5, 2023 in the US Southern District of New York on Thursday for the years-long litigation.
The documents list at least 75 reported cases of sexual misconduct by male executives as well as seven criminal complaints alleging serious crimes, including rape, attempted rape and sexual assault.
The company has also been accused of firing managers with warnings despite repeated complaints from their subordinates.
“For example, a male manager took his employee to an abandoned office and offered to have sex with her,” according to court documents. The male manager then “called her separately and told her he was masturbating to the sound of her voice.”
“He also insisted that she come to his apartment, where he showed her photos he had taken of other Goldman employees in lingerie,” the complaint reads.
Lawyers published internal complaints that were submitted to Goldman officials between the years 2000 and 2011 describing how a manager allegedly told a subordinate that “with that fiery nature, you’d be fine in bed.”
Another Goldman official told a subordinate he liked her and repeatedly made sexually suggestive comments and overtures while on business trips, the lawsuit alleges.
According to court documents, the woman allegedly said, “I was talking to this guy who just got promoted to vice president…I told him how uncomfortable it made me to see guys touching me, and he really supported me and gave me advice on what to do, and the next thing I know is that his hand is on my ass too!
A Goldman Sachs spokesperson told the Post: “The plaintiffs’ presentation of the complaints does not reflect the reality at Goldman Sachs. Many are two decades old and have been presented selectively, inaccurately and incompletely. »
The spokesperson added: “Discrimination, harassment and abuse in any form are unacceptable at Goldman Sachs, and when identified, prompt action, including termination, is taken.”
“Out of respect for those involved, we are not going to comment on individual complaints.”
Court documents list other cases of unwanted touching. A male employee allegedly showed co-workers a sex tape he made with an unidentified woman and then “perpetuated the rumor that the woman was a co-worker”.
The lawsuit says at least seven criminal complaints have been filed alleging sexual assault, attempted rape or rape by male Goldman employees.
An employee alleged that she was drugged and raped by a male employee after a company baseball game.
The lawsuit also alleged that a male manager harassed, groped and offered a female subordinate for sex during an orientation retreat.
After rejecting her advances, he followed her to her bedroom, tried to get into bed with her, and didn’t leave her alone until she could lock the door, according to the suit.
The court documents also allege that Goldman is “aware of these issues” and “tolerates managers who engage in gender stereotyping, sexual harassment and/or gender bias.”
An employee alleges that it is “widely known” that a “participating general manager” was “inappropriate towards young women” and that “other women have inappropriate experiences with [him]and that she is “terrified to be alone with him”.
The documents then list other alleged incidents, including one in which the company only offered a “verbal warning” to a male manager who allegedly groped his assistant.
Another man associated was released with a “strongly worded written warning” after spreading the rumor of a sex tape.
“In fact, the perpetrators of sexual harassment were promoted or allowed to remain in leadership positions,” according to the attorneys representing the plaintiffs.
One of three named plaintiffs who filed a lawsuit against Goldman, Cristina Chen-Oster, first went public with her allegations in 2005.
The MIT grad who went on to become Goldman vice-chairman claimed a male colleague slammed her against the wall and stuck his hand in her blouse while trying to force himself on her.
Court documents allege that even after reporting the incident to the company, her attacker was promoted to general manager.
The other plaintiffs named in the case are Allison Gamba and Shanna Orlich.
Gamba alleges she was passed over for promotion despite generating a department-record $9.5 million as a trader for Goldman on the New York Stock Exchange while less qualified male colleagues were elevated in rank and salary.
When she took her boss aside and asked if he had nominated her for a general manager position, she said he had told her: “I would have been a laughing stock if I had nominated you .”
“I just knew I wasn’t going to get promoted anymore,” Gamba told Vox in 2019.
“My head was against the glass ceiling.”
Orlich worked at Goldman as an associate who negotiated distressed credit. She alleged that her manager hired prostitutes “wearing short black skirts, strapless tops and Santa hats” for a holiday party.
Last month, a former Goldman banker, Jamie Fiore Higgins, published a memoir alleging that the investment bank’s Manhattan headquarters was so rife with misogyny that a colleague held up a spreadsheet ranking the female recruits on their “f–kability,” stating, “I want tit size and a–shape.
Higgins, 46, of Somerset County, New Jersey, writes that a male colleague told her she had been promoted “because of her vagina” and was the target of “mooing” from colleagues who made fun of her weight after she gave birth to her fourth child.
On another occasion, she claims, she was violently slammed against a wall by a male colleague who “wrapped [his hand] around my jaw” and threatened her as she was suspended in the air.
Higgins is the author of “Bully Market: My Story of Money and Misogyny at Goldman Sachs,” which is currently Amazon’s #1 bestseller in the “Financial Services Industry” category.
The investment bank provided a statement to The Post which read: ‘Had Ms Higgins raised these allegations with our human resources department at the time, we would have investigated them thoroughly and dealt with them seriously.’
“We have a zero tolerance policy for discrimination or retaliation against employees who report misconduct.”
A Goldman spokesperson also pointed out that Higgins writes in the “author’s note” portion of the book that the “referenced Goldman Sachs individuals are composite characters.”