Monday, 29 December 2014
Last updated 8 min 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.