Litigation is an extremely unstable, unpredictable entity.
That's exactly why large corporations aka deep pockets fear it. A Florida jury slapped R.J. Reynolds with punitive damages in the double-digit billions. So, Goldman Sachs should be nervous about "Chen-Oster v. Goldman Sachs & Company."
Right now it's a gender discrimination lawsuit by two former female employees Cristina Chen-Oster and Shanna Orlich. It alleges pay and promotion inequities and a boy's club work culture which includes strip joints.
The plaintiffs want to expand the suit to a class one representing, reports Bob Van Voris at Bloomberg, "2,300 current and former female associates and vice presidents who worked at the bank over the past decade." As we know, classes are difficult to certify.
Bloomberg updates us on this litigation. The defendant, says Van Voris, "filed papers rejecting claims ... [and] is opposing a request by the two women to expand their suit to represent a class ..." Here is the Bloomberg article.
Would Goldman Sachs be shrewd to settle with the two plaintiffs and try to end the litigation at that phase?