Blackstone, Goldman, KKR, TPG Global Beat Insider Trading Appeal

Affiliates of Blackstone Group LP, Goldman Sachs Group Inc., KKR & Co., and TPG Global LLC persuaded Delaware’s top court Thursday to reject insider trading claims over their mass sales of Zimmer Biomet Holdings Inc. shares shortly before regulatory woes send its stock price plunging.

The state’s justices upheld a ruling dismissing the pension fund lawsuit from Delaware’s Chancery Court, saying in a one-page order that the decision “should be affirmed on the basis of and for the reasons assigned by” Vice Chancellor Lori W. Will, who tossed the case last year.

Will found in August that ...