A settlement was reached between the Blackstone Group LP and its investors for allegations of misrepresentation committed during the hedge fund firm's initial public offering. Back in 2011, a US appeals court had reversed the dismissal of the proposed class action lawsuit on the matter.

Amongst the complainants was Landmen Partners Inc, who filed suit against Blackstone and its CEO Stephen Schwarzman as well as others in the firm. They claim that at the time of the IPO, two of Blackstone's portfolio companies as its real estate fund investments were 'experiencing problems'. According to the allegations, these facts would affect the overall revenues of the largest manager of private equity funds for real estate.

In June 2007, Blackstone went public and it raised USD4.13 billion, the largest IPO in the United States in the last five year during that time. The said shares peaked at USD31 per share but has since declined by 30%. At today's trading, Blackstone shares closed at USD21.65. The share values of Blackstone fell to as low as USD3.87 per share in February 2009 when the global financial crisis halted deal making.