Summary of “Wall Street’s Biggest Gender Lawsuit Is 13 Years in the Making”

Dermody was relaying news that Chen-Oster, a former vice president at Goldman Sachs, had been awaiting for years.
A federal judge in New York had ruled that she and three other women who claim there’s systematic gender discrimination at Goldman can now represent as many as 2,300 other current and former employees.
A few months before Chen-Oster left Goldman, rival investment bank Morgan Stanley agreed to settle a sex discrimination case for $54 million.
Chen-Oster, the bank argued, hadn’t made it clear from the beginning that she was suing on behalf of other women and it called out her use of “Me” and “My” in her complaint to the EEOC. Goldman lost that one.
Goldman used the Dukes case to attack, saying Chen-Oster’s was so similar that it should be dismissed without wasting the court’s time.
If Chen-Oster wanted Goldman to change, it looked like she’d have to get current bank employees to join her case.
In the decision Chen-Oster would read in a Broadway theater, she ruled that Chen-Oster, Orlich, Gamba, and De Luis could represent female associates and vice presidents who have worked in three divisions at Goldman in the U.S. since September 2004 and in New York since July 2002.
In a telling sign of where things stand for women on Wall Street, Goldman bragged that its 2016 partner class was 23 percent female, its most diverse yet.

The orginal article.