Professor Melanie Stallings Williams co-authored an article, “Masters of the Universe: Bid Rigging By Private Equity Firms in Multibillion Dollar LBOs,” for the University of Cincinnati Law Review that throws the spotlight on a rare class-action lawsuit in which the plaintiffs – shareholders in companies purchased – demonstrated that some of the world’s largest private equity firms unlawfully colluded to ensure that they held down prices on the companies they were bidding to buy.
“I don’t think people realize that when this happens, it’s our money, yours and mine, that’s involved,” Williams said. “Yes, some of the shareholders are monied people, but some of the shareholders are retirement funds and the type of mutual funds that your grandmother owns. These aren’t just rich people they are taking advantage of. It’s you, me and the people we care about.” Read more