News about Adam Klein

Female employees were undervalued and prevented from progressing in their careers as a result of company-wide bias, according to the gender discrimination case, which started in 2010. The original claimants were former Goldman workers Cristina Chen-Oster (left) and Shanna Orlich (left), who filed a class action lawsuit in 2018.

After 1,800 female employees pleaded guilty of paying less, Goldman Sachs has decided to pay out $215 million to resolve a long-running class-action lawsuit. A joint statement by the firm and the lawyers, which was released first by Bloomberg today, confirms a pay-out 13 years after the first claimants came forward in 2010 and obtained the right to lead the class action lawsuit in 2018. Those funds would be distributed among the workers who participated in the litigation, mainly in the investment banking and securities divisions. The global head of human resource management, Jacqueline Arthur, said: "Both parties have decided to settle the matter after more than a decade of bitter litigation,' he said.