Goldman Sachs Denies Ex-Employee Claims of Sex Bias

Goldman Sachs Group Inc. (GS) denied allegations that it discriminated against women on pay and tolerated a “boys’ club” atmosphere featuring excessive drinking and trips to strip clubs with clients.

Goldman Sachs filed papers rejecting claims by two former female employees, Cristina Chen-Oster and Shanna Orlich, in Manhattan federal court. The New York-based company is opposing a request by the two women to expand their suit to represent a class of more than 2,300 current and former female associates and vice presidents who worked at the bank over the past decade.

“To be clear: Goldman Sachs does not tolerate discrimination of any kind,” the firm said in court papers filed July 25.

Chen-Oster and Orlich sued in 2010, claiming to have expert statistical analyses that show a pattern of discrimination against women in earnings and promotions. They also claim Goldman Sachs harbors a work environment where women are treated as “second-class employees.”

Read on.

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