Goldman Sued by Women Claiming Gender Bias

NEW YORK – Goldman Sachs Group Inc GS was hit with a gender bias lawsuit by three women who said Wall Street's most profitable bank maintains an "outdated corporate culture" that systematically deprives women of pay and promotions available to men. The plaintiffs are seeking class-action status on behalf of women who have worked as Goldman managing directors, vice presidents and associates in the last six years. It seeks punitive and other damages, and an end to gender bias at Goldman. The lawsuit, filed Wednesday in Manhattan federal court,contends that Goldman managers have unfettered discretion to assign accounts and responsibilities, and decide who gets administrative support and training. Read the rest here.