Blackstone Settles IPO Lawsuit For $85M

The Blackstone Group L.P. (NYSE:BX) has settled a lawsuit brought against it by a group of investors for $85 million. The suit related to the company’s misrepresentation of certain investments to the public in the lead up to its initial public offering in 2007. According to the New York Times, the legal settlement was filed in a Manhattan court on on Wednesday. The case rested on the value that The Blackstone Group L.P. (NYSE:BX) put on three of its investments in the lead up to its 2007 IPO. According to the New York Times report on the settlement, the agreement…