Home > Uncategorized > EMails Allege Collusion In Private Equity – Business Insider

EMails Allege Collusion In Private Equity – Business Insider

October 12, 2012 Leave a comment Go to comments

The last time we checked in with the “club deal” collusion scandal rocking the private equity industry, a Boston Judge had ordered the firms involved to refile documents, as the ones that they had submitted to the Court had too many redactions.

Well now the new documents are in, and without the redactions, they are embarrassing.

Here’s the case: Shareholders have accused a bunch of private equity titans like KKR, Blackstone, Bain Capital and more, of colluding to keep the prices of take-over target companies down, and agreeing on who would buy what. The prosecution is alleging that these firms engaged in bid-rigging, or made “club deals,” to eliminate good old fashioned competition.

Peter Lattman and Eric Lichtbaum The New York Times have published some bits of these documents for us to check out, and they show that the heads of these private equity firms had a warm relationship, to say the least.

via EMails Allege Collusion In Private Equity – Business Insider.

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