STB Obtains Dismissal of Class Action on Behalf of Blackstone and Hilton
05.28.08
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On May 19, 2008, the Los Angeles Superior Court sustained the demurrers filed by our clients, The Blackstone Group L.P. and Hilton Hotels Corporation, dismissing a consolidated class action complaint concerning Blackstone's October 24, 2007 acquisition of Hilton Hotels. The plaintiffs alleged that Hilton's former directors breached their fiduciary duties by entering into the acquisition, and that Blackstone and Hilton aided and abetted the Hilton directors' alleged breaches of fiduciary duty. The Simpson Thacher team consists of Bruce Angiolillo, Chet Kronenberg, Jonathan Youngwood, George Choundas, Allison Kimmel, Scott Laton and Raj Parekh with valuable assistance from paralegals Stephanie Crosskey, Sharri Wilner, Clyte White, Nicole Forbes and Monika Kapuscinska.