Private Equity Antitrust

Summary of Pending Case: On December 28, 2007, Shepherd, Finkelman, Miller & Shah, LLP, along with co-counsel, filed a Class Action Complaint (“Complaint”) in the United States District Court for the District of Massachusetts on behalf of Plaintiffs, Kirk Dahl, Helmut Goeppinger, Joseph S. Fisher, M.D., P.C., James Klein, M.D., Rufus Orr and Robert Zimmerman (“Plaintiffs”) against Defendants, Apollo Global Management, LLC, Bain Capital Partners, LLC, the Blackstone Group, TC Group IC, LP.P., the Goldman Sachs Group, Inc., GS Capital Partners, L.P., JP Morgan Chase & Co., JP Morgan Partners, LLC, Kohlberg Kravis Roberts & Company, L.P., Merrill Lynch & Co., Inc., Merrill Lynch Global Private Equity, Inc., Permira Advisors LLC, Providence Equity Partners, Inc., Silver Lake Partners, L.P., TPG Capital, L.P., Thomas H. Lee Partners, L.P. and Warburg Pincus LLC (“Defendants”). The case is assigned to the Honorable Edward F. Harrington. The Complaint alleges that Defendants used so-called “club leveraged buy outs” or group deals to horizontally fix prices by rigging bids. The Complaint further alleges that between 2003 and 2008, Defendants agreed on bid prices, included sham bids to give the appearance of competition for the target company, and agreed which parties would bid on particular deals.

Status of Pending Case: Plaintiffs filed an Amended Complaint on May 2, 2008 and a Second Amended Complaint on July 16, 2008. On December 15, 2008, the Court denied Defendants’ Motion to Dismiss the action and the parties are currently engaged in discovery.

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