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Goldman Sachs Group Inc. has agreed to pay $215 million to put an end to a long-running class-action lawsuit that accused the Wall Street giant of systemically underpaying women.
The New York-based bank struck the deal with lawyers representing about 2,800 female associates and vice-presidents, according to a joint statement from the bank and the plaintiffs' lawyers.
Wall Street giant struck a deal with lawyers representing nearly 3,000 women
The settlement is bigger than the sum that Smith Barney paid decades ago, more than $100 million, to end what was known as the Boom-Boom Room suit.
The original claimants were former Goldman employees Cristina Chen-Oster (right) and Shanna Orlich (left), who first sued the company in 2010.