Goldman Sachs Settles Gender Bias Suit for $215 Million
Goldman Sachs has agreed to pay $215 million to settle a class action lawsuit alleging gender bias against women in pay and promotions. The settlement covers about 2,887 current and former female vice presidents and associates who worked in investment banking, investment management, and securities. The resolution averts a trial that was scheduled to begin in June in the nearly 13-year-old case. The average payout could be about $47,000 after deducting legal fees and costs, and court approval is required.