Good morning newspaper readers! Georgia Meloni has been sworn in as Italy’s prime minister, Instacart has dropped plans for an IPO in 2022, and two major Wall Street #MeToo cases are set to go to trial next year. Spend your Monday with meaning.
Christina Chen-Oster, a former vice president of Goldman Sachs, filed a lawsuit against the bank 17 years ago alleging harassment and gender discrimination. The case will end in a gender bias class action involving 1,400 plaintiffs in 2023. As Fortune Senior Writer Maria Aspen writes in a new article, Chen-Oster “almost reached college age fighting Goldman.”
The upcoming lawsuit is one of two major Wall Street harassment and discrimination cases due in court in the first half of next year. Chen-Oster’s lawyer told Aspan that it could cause #MeToo reckoning “in an industry that is using every available strategy to prevent these problems from occurring.”
Investor Sarah Tirschwell has filed a second lawsuit against bond trading giant TCW Group. Tierschwell alleges in a 2018 lawsuit that she was sexually harassed by her boss and then fired for exposing.
TCW denies the allegations and Goldman Sachs denies the class action allegations. A spokesman for Goldman Sachs said the bank has “a long and distinguished track record of supporting and advancing women.”
Tirschwell’s TCW lawsuit, one of the first publicly disclosed cases on Wall Street since the spread of the #MeToo virus, is due in court on May 1, and the Goldman case in June.
Both are already complex and lengthy legal battles. However, the fact that these cases have persisted for so long and are publicly confirmed, marks a moment of reckoning for the financial industry. Sexual harassment and gender discrimination were not widely discussed when Chen Oster first made his statement almost 20 years ago. When she finally stood trial, the cultural context changed dramatically. “We knew from the start that it would be a long process, but I’m not sure I expected it to take that long,” Oster Chen told Aspen of her 17-year journey.
The Broadsheet is Fortune’s newsletter for and about the world’s most powerful women. Subscribe here.
- Next. Boris Johnson dropped out of the race for Liz Truss as British prime minister on Sunday, House of Commons leader Penny Mordout said today. This means that former Truss rival Rishi Sunak will become the leader of the Conservative Party and the next UK prime minister. The Washington Post
- in the office. Georgia Meloni was sworn in as Italy’s prime minister on Saturday. The far-right politician is Italy’s first female prime minister, but some Italians are worried about the direction she has promised to lead the country.CNN
- sold out. Grocery delivery company Instacart, led by Fiji CEO Simo, has reportedly abandoned plans to go public in 2022 due to uncertain market conditions. An IPO before the end of the year is now “highly unlikely,” sources said. Reuters
- no sound. Chinese President Xi Jinping was re-elected for a third five-year term as the general secretary of the Chinese Communist Party on Sunday, making him the country’s most powerful leader in decades. For the first time in 25 years, the Politburo, the 24-member committee that runs the country, will be without a woman guardian
Shakers: Jonel Prokop is stepping down after two years as president and CEO of Apollo Theaters. Goldman Sachs CEO Dinah Powell McCormick will become chair of the Robin Hood Foundation. The Cleveland Cavaliers, Rock Entertainment Group and Rocket Mortgage FieldHouse have appointed Susan Oguche as Director of Communications. Carver Bancorp added Morgan Lewis & Bockius partner Robin L. Nunn to its board of directors. Carver Bancorp added Morgan Lewis & Bockius partner Robin L. Nunn to its board of directors. Carver Bancorp добавила партнера Morgan Lewis & Bockius Робина Л. Нанна в свой совет директоров. Carver Bancorp added Morgan Lewis & Bockius partner Robin L. Nunn to its board of directors. Carver Bancorp 将Morgan Lewis & Bockius 的合伙人Robin L. Nunn 添加到其董事会。 Carver Bancorp 将Morgan Lewis & Bockius 的合伙人Robin L. Nunn 添加到其董事会。 Carver Bancorp добавляет партнера Morgan Lewis & Bockius Робина Л. Нанна в свой совет директоров. Carver Bancorp adds Morgan Lewis & Bockius partner Robin L. Nunn to its board of directors.
- Dangerous zone. US surgeon Vivek H. Murthy warned last week that toxic jobs are “bad for human health.” A brutal or ultra-competitive work environment can lead to chronic stress, which increases the risk of heart disease, diabetes, and cancer. Washington Post
- Archival material? Last month, Lauren Powell Jobs unveiled the Steve Jobs Archives, a website documenting her late husband’s legacy and philosophy as the founder of Apple. But now historians fear that the site could inspire influential figures to “put history in order” posthumously. The New York Times
- Competitive fights. The International Tennis Integrity Agency suspended the punishment after former world No. 1 Simona Halep failed a drug test during the US Open. The Romanian football player can be suspended for four years. But Halep said she never knowingly took a banned substance and she would work to disprove the allegation. ESPN
Christina Aguilera’s new ‘beautiful’ video fights social media’s pernicious influence
“We are three sisters who not only take turns blazing the trail and marking each other’s route, but also sharing secrets with each other and guarding each other’s memories together.”
- Musician Carly Simon, dedicated to her sisters Joanna and Lucy Simon. Opera singer Joanna and composer Lucy passed away on the same day from cancer last week.
This is the web version of The Broadsheet, a daily newsletter on the world’s most powerful women. Sign up for free shipping to your inbox.
© 2022 Fortune Media Intellectual Property LLC. All rights reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Data Collection Notice and Privacy Statement | Do not sell my personal information | Advertising Choice FORTUNE is a trademark of Fortune Media IP Limited, registered in the US and other countries. Fortune may be compensated for links to certain products and services on this website. Offers subject to change without prior notice. S&P Index data is the property of Chicago Mercantile Exchange Inc. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Данные S&P Index являются собственностью Chicago Mercantile Exchange Inc. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Данные S&P Indices являются собственностью CME и ее лицензиаров. S&P Indices data is the property of CME and its licensors. All rights reserved. Terms & Conditions. Terms & Conditions. Terms. terms and Conditions. Operates and is implemented by an interactive data management solution.
Post time: Oct-25-2022