Blackstone Sued Over $8B Extended Stay Buyout

By Ian Thoms ( June 15, 2011, 1:48 PM EDT) -- A bankruptcy trust for Extended Stay America Inc. sued Blackstone Group LP in New York on Tuesday, claiming the investment firm fraudulently reaped $2.1 billion by orchestrating an $8 billion leveraged buyout it knew would drive the hotel chain out of business....

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