Women at Goldman Sachs report rape, assaults by male managers: lawsuit

Dozens of women employed at Goldman Sachs more than a decade ago unveiled new allegations about how they have been subjected to discrimination, sexual harassment and sexual assault by the Wall Street giant’s male executives for years.

Explosive allegations in freshly unwritten court documents released Thursday by attorneys representing approximately 1,400 plaintiffs who filed a class action for sex discrimination, details on the lewd and criminal behavior by the company’s top bankers.

On Thursday, a judge set the trial date for June 5, 2023 in the southern U.S. district of New York for the years-long litigation.

The documents list at least 75 reported cases of sexual misconduct by male executives, as well as seven criminal charges for alleged serious crimes including rape, attempted rape and sexual assault.

The company was also accused of firing managers with warnings despite repeated complaints from female subordinates.

“For example, a male manager took his employee to an abandoned office and offered her to have sex,” court documents say. The male manager then “called her separately and said she was masturbating to the sound of her voice.”

“She also insisted that she come to her apartment, where he showed her the photos he had taken of other Goldman employees in lingerie,” the complaint read.

Cristina Chen-Oster, former Goldman vice president, said she was sexually assaulted by a male colleague.
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The lawyers released internal complaints that were filed with Goldman officials between 2000 and 2011 describing how a manager is said to have told a female subordinate that “with that exuberant nature, you’d be good in bed.”

Another Goldman manager told a female subordinate he loved her and repeatedly made sexually suggestive comments and openings during her business trips, the lawsuit claims.

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 it made me uncomfortable with the way the guys were touching me, and it really was. support and gave me advice on what to do, and next thing I know, his hand is on my ass too!

Workers cross the street at Goldman Sachs headquarters in New York
“The plaintiffs’ filing of complaints does not reflect the reality of Goldman Sachs,” a spokesperson said.
Bloomberg via Getty Images

A spokesperson for Goldman Sachs told The Post, “Plaintiffs’ filing of complaints does not reflect the reality of Goldman Sachs. Many are in their twenties and have been presented in a selective, imprecise and incomplete way. ”

The spokesperson added: “Discrimination, harassment and ill-treatment in any form are unacceptable by Goldman Sachs and, once identified, swift action is taken, including dismissal.”

“Out of respect for the people involved, we will not comment on individual complaints”.

Court records list other cases of unwanted contact. A male employee is said to have shown colleagues a sex tape he made with an unidentified woman and then “perpetuated the rumor that the woman was a colleague.”

The lawsuit claims that at least seven criminal charges have been filed for alleged sexual assaults, attempted rape or rape by male Goldman employees.

A female employee claimed she was drugged and raped by a male employee after a corporate baseball game.

Allison Gamba said she was ignored for a promotion despite being a high performing Goldman trader on the New York Stock Exchange.
Allison Gamba said she was ignored for a promotion despite being a high performing Goldman trader on the New York Stock Exchange.
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The lawsuit also alleged that a male manager molested, groped and proposed a female subordinate for sex during an orientation retreat.

After she refused his advances, he followed her to her room, tried to get into bed with her, and wouldn’t leave her alone until she was able to lock the door, according to the suit.

The court documents also state that Goldman is “aware of these issues” and that it “tolerates managers who practice gender stereotypes, sexual harassment and / or gender favoritism.”

One female employee argues that it is “widely known” that a “participating CEO” was “inappropriate towards young women” and that “other women have inadequate experience with [him]”And that she is” terrified to be with him alone. ”

The documents go on to list other alleged incidents, including one in which the company offered only a “verbal warning” to a male manager who is said to have groped his assistant.

Shanna Orlich claims that Goldman's managers would hire escorts to wear skimpy clothes during corporate parties.
Shanna Orlich claims that Goldman’s managers would hire escorts to wear skimpy clothes during corporate parties.
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Another associated male was released with a “strong word warning” after spreading a rumor on a sex tape.

“In fact, sexual harassment perpetrators have been promoted or allowed to remain in senior management positions,” according to lawyers representing the plaintiffs.

One of the three named plaintiffs who filed a lawsuit against Goldman, Cristina Chen-Oster, first went public with her allegations in 2005.

The MIT graduate who became Goldman’s vice president said a male colleague pinned her against the wall and slipped his hand along her blouse as he tried to impose himself on her.

Sexual harassment complaint form
The court documents also state that Goldman is “aware of these issues” and that it “tolerates managers who practice gender stereotypes, sexual harassment and / or gender favoritism.”
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Court documents say that even after he reported the incident to the company, his attacker was promoted to CEO.

The other plaintiffs named in the case are Allison Gamba and Shanna Orlich.

Gamba claims she was ignored for a promotion despite generating a departmental record of $ 9.5 million as a trader for Goldman on the New York Stock Exchange, while less-skilled male colleagues were high in terms of rank and salary.

When she pulled her boss aside and asked him if he had nominated her for a CEO role, she said he told her, “I would have been a laughingstock if I had named you.”

“I just knew I wasn’t going to be promoted again,” Gamba told Vox in 2019.

Recently drafted court documents list at least 75 reported cases of alleged sexual misconduct between 2000 and 2011.
Recently drafted court documents list at least 75 reported cases of alleged sexual misconduct between 2000 and 2011.
SOPA / LightRocket images via Gett

“My head was against the glass ceiling.”

Orlich worked at Goldman as a partner dealing with bad loans. He claimed that his manager hired prostitutes “wearing short black skirts, strapless tops and Santa hats” for a party.

Last month, a former Goldman banker, Jamie Fiore Higgins, published a memoir stating that the investment bank’s headquarters in Manhattan was so full of misogyny that a colleague kept a spreadsheet that classified the female recruits on their “f-kability”, stating, “I want the boob size and shape.”

Higgins, 46, of Somerset County, New Jersey, writes that she was told by a male colleague that she was promoted “because of her vagina” and was the target of “muu” sounds from colleagues who made fun of her weight after she gave birth to her fourth child.

Headquarters of Goldman Sachs
A judge has set a trial date for June 5, 2023 in the southern US district of New York for the litigation that lasted for years.
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On another occasion, she claims, she was violently pinned to a wall by a male colleague who “wrapped her up [his hand] around my jaw ”and threatened her as she hovered in midair.

Higgins is the author of “Bully Market: My Story of Money and Misogyny at Goldman Sachs”, which is currently the # 1 bestseller. 1 of Amazon in the “Financial Services Industry” category.

The investment bank provided a statement to The Post that said, “If Ms. Higgins raised these allegations with our human resources department at the time we would investigate them thoroughly and take 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 individuals of Goldman Sachs referred to are composite characters.”

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