Silver Lake Partners has agreed to pay $29.5 million to settle an antitrust lawsuit alleging it conspired to limit competition in the leveraged buyout boom that preceded the financial crisis. Silver Lake is a private equity firm that specializes in buyouts in the technology sector. Silver Lake’s settlement, combined with some others, will provide about $150 million to investors who had been cheated as a result of the suppressed competition. It’s said that the settlement is “well within the range of fairness, adequacy and reasonableness” for such agreements.
In earlier pacts, Goldman Sachs Group Inc. agreed to pay $67 million and Bain Capital Partners LLC agreed to pay $54 million, subject to approval by U.S. District Judge William G. Young. Shareholders of companies that were acquired accused Goldman Sachs, Bain and banks and private-equity firms of conspiring to carve up the market for large leveraged buyouts, suppressing prices and depriving investors of billions of dollars.
Source: Bloomberg.com and Phil Milford at firstname.lastname@example.org
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