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U.S. Private Equity Firms Hit With Bid-Rigging Suit

Law360 (February 15, 2008, 12:00 AM EST) -- A group of the largest private equity firms in the U.S. is facing a purported class action by shareholders who claim the companies conspired to rig bids and divvy up the market for private equity services for leveraged buyouts.

Goldman Sachs Group Inc., JP Morgan Chase & Co., Merrill Lynch & Co. Inc. and Blackstone Group LP, among other big-name equity firms, are named in the complaint, filed Thursday in the U.S. District Court for the District of Massachusetts.

The firms conspired to “dominate and control”...
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