We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Blackstone Partner Hit With Insider Trading Suit

Law360 (January 14, 2009, 12:00 AM EST) -- The U.S. Securities and Exchange Commission has reportedly accused a managing partner at private-equity firm Blackstone Group of being involved in an insider trading scheme that netted more than $3.6 million.

In a lawsuit filed Tuesday in the U.S. District Court for the Southern District of New York, Blackstone managing partner Ramesh Chakrapani was accused of passing along material, nonpublic information about the 2006 acquisition of the grocery chain Albertsons, according to Reuters.

Chakrapani has reportedly been suspended from the firm.

“We are shocked by this...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.