Women at Goldman Sachs reported 75 incidents of sexual assault

Between 2000 and 2011, women at Goldman Sachs reported 75 instances of sexual assault and harassment involving senior bankers, including rape, according to newly made public court records.

The allegations are a part of a class-action lawsuit in New York accusing the banking behemoth of discriminating against women’s pay and promotion. The trial for the lawsuit, which currently stands in for 1,400 women, is scheduled for June.

Since 2010, Goldman has fought the case and refutes accusations of bias. Many of the complaints, it claimed, were more than 20 years old and had been “selectively, inaccurately, and incompletely presented.”

“Discrimination, harassment and mistreatment in any form are unacceptable at Goldman Sachs, and when identified, swift action, including termination, is taken. Out of respect for the persons involved, we are not going to comment on the individual complaints,”  a spokesperson said.

One of the three women who submitted the first complaint, former vice president and bank employee Cristina Chen-Oster, told the BBC she was looking forward to testifying at trial and sharing her experiences. Cristina Chen-Oster worked for the bank from 1997 until 2005.

“I hope this case will help to finally break the glass ceiling for women on Wall Street and set a precedent for other industries where gender discrimination is pervasive,” she said. “We need to bring transparency to practices that previously seemed untouchable.”

According to the lawsuit, women at Goldman received lower pay and fewer promotions as a result of a pattern of discriminatory actions, including a “boys’ club” workplace environment that allowed the sexualization of female employees.

Goldman is accused of allowing sexually harassing managers to work there, including one who rang a bell whenever a woman entered the room. According to the lawsuit, he was eventually given the position of managing director.

One of the alleged sexual assault occurrences reported to the corporation was a female employee who claimed she was drugged and assaulted following a business baseball game.

Another woman said that a male manager led her to an unoccupied floor and offered to have sex with her; he later called to admit that he was “masturbating to the sound of her voice.”

As stated in the complaint, Goldman took offence at both the women who took maternity leave and those who raised complaints about the situation.

After a business dinner, according to Ms. Chen Oster’s initial complaint, a married male colleague “pinned her against a wall, kissing and touching her.”

She claims that she was routinely underpaid and refused opportunities, pointing out that Goldman withdrew her from her previous roles after she went on maternity leave and put her in a position among female support personnel.

Based on the lawsuit, “the record overwhelmingly reveals that Goldman continues to treat women as second-class employees year after year, allowing a culture of fear and reprisal to develop rather than resolving systematic gender bias.”

Lawyers are seeking the court to impose reinstatement or damages for the women, who the petition claims were paid 20% less than their male counterparts if they were vice presidents, while female associates got 8% less.