Investor Suit Over $4.5B Blackstone IPO Tossed

Law360, New York (September 22, 2009, 7:51 PM EDT) -- A judge on Tuesday dismissed a proposed class action alleging The Blackstone Group withheld information from investors in connection with its more than $4.5 billion public offering in 2007.

In an opinion and order, Judge Harold Baer Jr. of the U.S. District Court for the Southern District of New York said the plaintiffs, led by Martin Litwin and BX Investor Group, failed to state a claim. He said that the investments and losses cited by the plaintiffs were not significant enough for the suit to go...
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