Lawyers seek fees of about $195 mln for LBO collusion settlements

[laserhaas]

Source: Reuters

(Reuters) - Lawyers who persuaded seven private equity firms to pay $590.5 million to settle lawsuits accusing them of conspiring to depress the prices of corporate buyouts before the financial crisis are seeking fees of about $195 million for their work.

According to a court filing on Friday, the three law firms that led the nearly seven years of litigation are requesting fees equal to 33 percent of the settlement fund, plus as much as $15 million to cover litigation costs.

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It accused private equity firms of conspiring to reduce competition, refrain from bidding on each other's buyouts and not trying to outbid each other after buyouts were announced.

The seven firms that settled were Bain Capital Partners LLC, Blackstone Group LP, Carlyle Group LP, a Goldman Sachs Group Inc affiliate, KKR & Co, Silver Lake Partners LP and TPG Capital

Read more: http://www.reuters.com/article/2014/09/26/lbocollusion-settlement-idUSL2N0RR28U20140926?feedType=RSS&feedName=mergersNews

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Bain Capital and Goldman Sachs are going to get another settlement going;
if the federal courts will stop protecting them from prosecution!

[laserhaas]

1. How Bain Cap. & Goldman Sachs makes huge money - is by rigging the game - everywhere.

New York Times March 2013 "Rigging the I.P.O. Game" (in eToys).

http://www.nytimes.com/2013/03/10/opinion/sunday/nocera-rigging-the-ipo-game.html?pagewanted=all&_r=0

[laserhaas]

2. These crimes that Bain Cap & GSachs settled, would have any other person in jail.

Guess it is established that - if you want to steal - do it as a corporation;
and have people like USAG Holder look the other way.