After almost five years of litigation, defense lawyers at Sullivan & Cromwell and Paul Hastings won an important ruling from a magistrate judge in a proposed gender discrimination class action against Goldman Sachs.
In a 46-page opinion issued on Tuesday, Southern District Magistrate Judge James Francis IV recommended against certifying the case as a class action. While the plaintiffs had presented evidence that female Goldman vice presidents and associates earned less than their male counterparts, the judge found differences between individual business units at the bank made it too hard to show on a classwide basis that gender discrimination was the cause of any disparities.
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