Stone Point Capital Accused of Bankruptcy Fee Conspiracy

Stone Point Capital LLC was hit with a lawsuit June 6 accusing the private equity firm of participating in a conspiracy to charge “excessive, if not exorbitant,” fees for bankruptcy services.

Stone Capital subsidiary Bankruptcy Management Services Inc., now known as Stretto, has conspired since 2010 with competitors Epiq eDiscovery Solutions Inc. and TrusteSolutions to coordinate their fee structures, according to the proposed class action filed in New Jersey federal court by Spinner Consulting LLC. The suit doesn’t name BMS or its alleged co-conspirators, a trio that dominates the bankruptcy services industry, as defendants.

According to the complaint, the scheme ...