Investors Sue Over Blackstone IPO

Law360, New York (April 16, 2008, 12:00 AM EDT) -- A public offering that netted a total of $4 billion for The Blackstone Group LP has also scored the firm a proposed class action lawsuit, with shareholders alleging Blackstone failed to disclose that its portfolio was not performing as well as expected.

In a lawsuit filed on Tuesday in the U.S. District Court for the Southern District of New York, plaintiffs firm Coughlin Stoia Geller Rudman & Robbins LLP claimed that Blackstone withheld information from investors in the prospectus for its June 25 initial public offering....
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