Blackstone Investors Win Class Cert. In IPO Suit

Law360, New York (August 14, 2013, 1:40 PM EDT) -- A New York federal judge on Wednesday certified a class of investors alleging that The Blackstone Group LP withheld information to lure them into buying more stock.

U.S. District Judge Harold Baer united the plaintiffs, including investors Martin Litwin and Landmen Partners Inc., who sued Blackstone in 2008, claiming the private equity giant had a duty to disclose information related to troubled investments, including those in FGIC Corp. and Freescale Semiconductor Inc., when it put its stock up for sale to the public in 2007....
To view the full article, register now.