3min chapter

Decoder with Nilay Patel cover image

Private equity bought out your doctor and bankrupted Toys”R”Us. Here’s why that matters.

Decoder with Nilay Patel

CHAPTER

Plunder, Private Equity's Plan to Pillage America

It's almost impossible for a private equity firm to be held legally responsible under common law veil piercing arguments. The legal doctrines around veil piercing vary from state to state, but generally it is extraordinarily hard to do that in large part thanks to good litigating from defense side law firms. Partly it's the challenge of very sophisticated investors and companies structuring their businesses in a way that makes it even harder to figure out who is responsible. In fact, I'm not sure the argument's even really being made at this point.

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