Sunday, 1 February 2015
Last updated 1 day ago
Jun 12 2014 | 10:55am ET
Bain Capital Partners and Goldman Sachs will pay more than $100 million to settle allegations that they and other big private-equity companies colluded to keep takeover prices down.
The settlement, which leaves just five of the original 11 p.e. firms still facing the lawsuit, was disclosed yesterday in court papers. The class-action lawsuit brought by shareholders of companies bought out by p.e. firms over the past decade, alleging that the firms agreed not to bid on eight companies sought by competitors, is set to go to trial on Nov. 3.
Bain will pay $54 million and Goldman $67 million. Their deals could bring the remaining respondents, Blackstone Group, Carlyle Group, Kohlberg Kravis Roberts, Silver Lake Partners and TPG Capital, to the negotiating table.
“It is harder to settle multi-defendant lawsuits in one fell swoop, and this may portend breaking the logjam,” Christopher Burke, a lawyer for the plaintiffs, told Reuters.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…