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U.S.: Goldman, Bain join defendants list in bid-rigging suit

 |  December 18, 2012

Goldman Sachs Group Inc. and Bain Capital Partners LLC have partnered up to defend themselves, along with several others, in front of U.S. District Judge Edward Harrington in Boston this week against charges of bid-rigging. The two defendants are joined by Blackstone Group LP, Carlyle Group, KKI & Co., Apollo Global Management LLC and JPMorgan Chase & Co in a suit alleging the firms and their bankers rigged bids for takeover contracts. The defendants claim their practices were legitimate. The lawsuit was initiated by shareholders in 2007 and 2009 and claims the firms conspired, among other charges, to “restrict the supply of private-equity financing” and “fix transaction prices.”

Full Content: Bloomberg

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