If you thought the New York state appeals court assured the future of the M&A plaintiffs’ bar last year when it bucked Delaware precedent and said shareholder lawyers deserve to be awarded fees for forcing defendants to cough up minimally useful new disclosures, you’d better read a new opinion by New York State Supreme Court Justice Shirley Kornreich, who rejected a disclosure-only settlement that included a $500,000 fee for plaintiffs’ lawyers.
via N.Y. judge rejects ‘worthless’ disclosure-only deal in M&A class action.
