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Friday, August 29, 2014

Carlyle Group to pay $115 million to settle collusion suit -source, (NASDAQ: CG)

Carlyle Group LP has agreed to pay $115 million to settle a lawsuit accusing it of conspiring with other takeover firms not to outbid each other on some takeovers that occurred prior to the financial crisis, a person familiar with the matter said on Friday.Carlyle was the only private equity firm among those still facing trial not to have settled. It brings the total amount buyout firms have agreed to pay to settle the leveraged buyout collusion charges to $590.5 million.Like its peers, Carlyle did not admit to any wrongdoing as part of the settlement, the person said, asking not to be identified ahead of any official announcement.Washington, D.C.-based Carlyle declined to comment.

Shares of CG traded higher by 0.09% or $0.03/share to $33.26. In the past year, the shares have traded as low as $24.95 and as high as $39.38. On average, 382400 shares of CG exchange hands on a given day and today's volume is recorded at 178915.