Tuesday
Feb072012
Against Class Action Arbitration
Carlyle Caves on Class-Action Lawsuit Ban in IPO
Delaware Online
February 4, 2012
Carlyle Group LP initially planned on banning shareholders from filing class-action lawsuits by inserting a provision that would require all future stockholders to resolve claims against Carlyle in arbitration instead of court. “The move provoked controversy among lawmakers and shareholder rights advocates, who urged the U.S. Securities and Exchange Commission not to approve the arbitration clause” so the plan has since been abandoned.
Reader Comments