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US: Private equity firm leaders face bid-rigging trial

By  |  June 21, 2013

Private equity firms Blackstone Group, Carlyle Group, Goldman Sachs and TPG Capital, the largest such conglomerates, seem to be facing an inevitable trial for charges of bid-rigging after a judge denied, for the second time, a motion to dismiss the case. Reports say the defendants are looking to dismiss the allegations by shareholders that the conglomerates conspired to rig bids down for a buyout of HCA, which occurred in 2006. The buyout occurred for $33 billion. Shareholders are seeking up to $4.5 billion in damages, according to a source. According to reports, the plaintiffs’ case is largely passed on emails sent by the defendants that allegedly show plans to artificially deflate bidding prices.

Full Content: NY Post

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