Judge lets US deal collusion lawsuit proceed versus 8 defendants
July 18 (Reuters) - A federal judge has allowed investors to pursue a closely watched lawsuit accusing several of the world's largest private equity firms of colluding to drive down prices on companies they sought to buy.
While dismissing two defendants from the case, U.S. District Judge Edward Harrington in Boston on Thursday said there are open issues as to whether eight other defendants were part of an "overarching" conspiracy to drive down prices on roughly a quarter trillion dollars of takeovers.
Harrington rejected requests by Bain Capital Partners LLC, Blackstone Group LP, Carlyle Group LP, Goldman Sachs Group Inc's private equity arm, KKR & Co, Silver Lake Partners, Thomas H. Lee Partners LP and TPG Capital Management LP to be dismissed from the lawsuit.
Apollo Global Management LLC and Providence Equity Partners Inc, in contrast, won dismissal.
The plaintiffs include shareholders in formerly publicly traded companies that were bought by the private equity firms between 2003 and 2007.
- Tweet this
- Share this
- Digg this
- Hurricane-force winds wreak havoc in Britain, head to Europe
- Air traffic computer fault hits flights from England
- Jailed Islamist women to go free, Egyptian court rules |
- Nobel economics winner Fama says risk of global recession in 2014
- Syrian Islamists seize Western-backed rebel bases -monitoring group