Providence Equity Partners was among the 13 private equity firms named yesterday in a federal lawsuit filed by investors in U.S. District Court, Manhattan, according to Reuters.
The complaint, which seeks class-action status, alleges price-fixing and contends that the plaintiffs received lower prices for shares they sold to the equity firms than they would have “under conditions of free and open competition.”
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Other firms named in the suit include Texas Pacific Group, the Blackstone Group and Kohlberg Kravis Roberts & Co.
