Goldman Sachs Settles Case Over Alleged Abuse of Intern (2)

Goldman Sachs Group Inc. reached a settlement with a former intern who alleged the company fostered a culture of hazing that included physical violence, embarrassing nicknames and forced drinking bouts.

The settlement with Patrick Blumenthal, who was a Drexel University student when he went to work for Goldman Sachs in 2017, came a week before a hearing on the investment bank’s request to dismiss the lawsuit. Terms of the accord weren’t disclosed in a filing in San Francisco Superior Court.

The company claimed it isn’t legally responsible for Blumenthal’s injuries, saying that because he was hurt during an after-hours work ...