A lawsuit alleging fraud in connection with the Blackstone Group’s 2007 initial public offering has been dismissed by a federal judge because omissions in the group’s registration documents did not concern enough money to be material.
Southern District Judge Harold Baer Jr. ruled in Landmen Partners Inc. v. The Blackstone Group, 08-CV-3601, that plaintiffs who claimed the private equity group failed to disclose that some of its portfolio companies were underperforming when it filed documents for the offering failed to clear the threshold for pleading a securities fraud action.
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