With our focus this week on alternatives to going public, and with Renaud Laplanche potentially engaging in a (ex) Management Buy Out, we turn our attention to the private equity industry. 

A recent ruling in the case of Dell judged that the consortium put together by founder Michael Dell in his 2013 buyback of the firm stated that it left investors short-changed, and that Dell was therefore on the hook for making them whole.

That a judge took it upon himself to do a DCF analysis aside, the ruling creates a potentially worrying precedent for later stage investors (though Andrew Ross Sorkin at the NYT argues that the Dell case is highly unique and not broadly applicable).