Carlyle Group settles private equity lawsuit for $115m

Oliver Twist

Carlyle Group is the last of the private-equity giants to settle civil charges that it colluded with rivals on tens of billions of dollars worth of deals.

The New York Post reports that the Washington, DC-based firm, led by David Rubenstein, agreed over the weekend to pay $115 million to settle the federal court case brought by shareholders in the target companies.

Seven PE firms agreed not to step into a rival’s takeout deal, thus cheating the shareholders out of possible robust bidding and a higher takeover price, the suit alleged.

Carlyle, Goldman Sachs, KKR, Bain Capital, Silver Lake Partners, Blackstone Group and TPG Capital neither admitted nor denied guilt.

Hit the link below to access the complete New York Post article:

Carlyle’s $115M ends private equity ‘collusion’ case

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