The Blackstone Group LLP Investor Alert: US Law Firm Dyer & Berens Files Class Action Lawsuit

DENVER, April 23, 2008 (Lawfuel) — Dyer & Berens LLP
(www.berenslaw.com) today announced that it has filed a class action
lawsuit on behalf of purchasers of the common stock of The Blackstone
Group L.P. (“Blackstone” or the “Company”) (NYSE:BX) pursuant and/or
traceable to the Company’s initial public offering on or about June 25,
2007 (the “IPO”). The lawsuit was filed in the United States District
Court for the Southern District of New York and was assigned Case No.
08-cv-3838.

If you are a purchaser of Blackstone common stock, you may have the
legal right to petition the court to be appointed a “lead plaintiff.” A
lead plaintiff is a representative party that acts on behalf of other
class members in directing the litigation. Any such request must
satisfy certain criteria and be made on or before June 16, 2008. If you
are a Blackstone investor and would like to discuss a potential lead
plaintiff appointment, or your rights and interests with respect to the
lawsuit, you may contact Jeffrey A. Berens, Esq. at 1-888-300-3362,
303-861-1764 or via email at [email protected]

The class action complaint alleges that, in connection with its IPO,
Blackstone failed to disclose that certain of its portfolio companies
were not performing well and were of declining value. As a result, the
Company’s equity investment was impaired and it would not generate
anticipated performance fees on those investments or would have fees
“clawed-back” by limited partners in its funds.

Dyer & Berens LLP specializes in complex class action litigation on
behalf of injured investors throughout the nation. The firm’s extensive
experience in securities litigation, particularly in cases brought
under the Private Securities Litigation Reform Act, has contributed to
the recovery of hundreds of millions of dollars for aggrieved
investors. Its attorneys have served as lead or liaison counsel in many
securities fraud class actions, including: In re Qwest Comm’ns Int’l
Sec. Litig.; Croker v. Carrier Access Corp.; UFCW Local 880-Retail
Employers Joint Pension Fund v. Newmont Mining Corp.; Rasner v.
FirstWorld Comm’ns, Inc.; In re ICG Comm’ns Sec. Litig.; Angres v.
Smallworldwide, PLC; In re Ultimate Electronics, Inc. Sec. Litig.;
Kerns v. SpectraLink Corp.; Queen Uno Ltd. v. Coeur d’Alene Mines
Corp.; Toothman v. One-Stop Wireless of America; Gregg v. Sport-Haley,
Inc.; and In re Tele-Communications, Inc. Sec. Litig.