Business

Shareholders claim private equity firms colluded

Former shareholders seeking billions from the most powerful private equity firms in a bombshell collusion case are expected to seek class-action status on Friday, The Post has learned.

Massachusetts federal court judge William Young is expected to rule on the matter within a few months.

If class action status is granted, pressure on the PE firms to settle will grow and, sources said, talks on a possible deal could follow. A November trial is scheduled.

KKR, Bain Capital, Silver Lake Partners, Blackstone Group, Carlyle Group, TPG Capital and Goldman Sachs agreed from 2004 to 2008 not to jump one another’s signed deals, allowing the firms to underpay on eight buyouts worth $170 billion, it is alleged.

The firms have denied the accusations and have succeeded in getting some former charges dismissed.