High Court Turns Aside Blackstone Cert Bid In IPO Case

Law360, New York (October 3, 2011, 4:07 PM EDT) -- The U.S. Supreme Court on Monday refused to hear The Blackstone Group LP's challenge to a lawsuit claiming the private equity giant failed to disclose material information to investors in connection with its $4.5 billion initial public offering.

The denial of New York-based Blackstone's petition for writ of certiorari left intact the Second Circuit's February decision that revived the New York federal court litigation against the world's largest private equity firm.

U.S. District Judge Harold Baer threw the case out in September 2009, but the Second...
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