Former shareholders may pursue narrowed claims against some large private equity firms who allegedly conspired with one another minimizing competition for target companies. See Dahl v. Bain Capital Partners LLC, D. Mass., 07-12388, 3/13/13), http://www.bloomberglaw.com/public/document/Klein_et_a_v_Bain_Capital_Partners_LLC_et_at_Docket_No_107cv1238.
The plaintiffs previously held shares in various public companies that were, ultimately, acquired by private equity firms. The complaint alleged that, between 2003 and 2007, the private equity firms engaged in an conspiracy to fix the prices in certain transactions. The court found that the evidence supported an inference that some of the defendants may have colluded.
In short, private equity firms should monitor this case, and avoid potential coordinated activities.