Dahl et al. v. Bain Capital Partners, LLC et al., No. 07-cv-12388 (D. Mass.)

This antitrust action accused several of the largest U.S. private equity companies of collusion and illegal market allocation when they were supposed to be competitively bidding for acquisitions. Wagstaff & Cartmell played a key role in defeating defendants’ summary judgment motions, paving the way for $590.5 million in settlements for shareholders financially harmed by the collusion.

About The Case

In late 2007, several shareholders who sold shares of stock to some of the largest U.S. private equity firms in leveraged-buyout transactions brought an antitrust action. They alleged that collusion had suppressed the price that they were paid for their shares of stock in these transactions that involved buying multi-billion-dollar U.S. public companies. In 2015, after almost seven years of contentious litigation, U.S. District Judge William G. Young approved seven settlements totaling $590.5 million for shareholders. Wagstaff & Cartmell and its attorney, Ty Hudson, was a member of the proposed Executive Committee that prosecuted this case and was one of the firms selected to present oral argument for plaintiffs at a two-day summary judgment hearing in Boston. The plaintiffs’ success in withstanding the defendants’ summary judgment motions paved the way for the series of settlements that followed. This case is believed to be the largest antitrust class action settlement involving market allocation in which no government antitrust action was taken.

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