By Moe Tkacik
Source: Slate
Earlier this week, four state attorneys general filed two separate lawsuits seeking to stop a clique of private equity firms from swiping $4 billion from the massive supermarket chain they own. It was a frankly shocking turn of events, given that, as anyone who has ever worked for one can attest, looting companies is quite literally what private equity firms do.
Crazier still is what happened Thursday night: A judge granted the Washington AG’s motion for a temporary restraining order, ordering the private equity guys to hold off on their cash grab, scheduled to go down on Monday, pending the results of a preliminary hearing on Nov. 10.
