Carlyle left as lone defendant in bid-rigging suit

Carlyle Group’s David Rubenstein looks to be the last man standing in a long-running bid-rigging suit against the biggest buyout firms.

The New York Post reports that three of the four remaining private-equity giants accused of conspiring to hold down deal prices are close to settling, leaving Carlyle as the lone defendant at a trial set for November 3, sources said.

'My expectation is there will be a trial', one source close to the situation said.

The buyout firms share joint responsibility in the suit brought by aggrieved shareholders in the acquired companies, which means Carlyle is liable for the full amount of damages in the case.

The suit claims seven buyout shops cheated shareholders out of billions by agreeing to steer clear of each other’s buyouts, thereby reducing competition.

To access the complete New York Post article hit the link below:

Carlyle Group last PE firm to face bid-rigging trial

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