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Browse: Home / M&A Cases

M&A Cases

Guest Post: Merger Objection Lawsuits Getting Tougher for Plaintiffs’ Attorneys | The D&O Diary

By Securities Docket on August 10, 2018, 11:09 am

In the nearly three years since the Delaware Court of Chancery first signaled its hostility to the proliferation of so-called disclosure-only merger lawsuits (culminating in the landmark In re Trulia, Inc. Stockholder Litigation decision), the sector has undergone considerable turmoil. (See my previous blog post.) In 2015, the first year impacted by the Delaware court’s change […]

Posted in Class Actions, Top | Tagged M&A Cases

What’s Really Happening in Securities Litigation? A Tale of Two Bars | New York Law Journal

By Securities Docket on March 15, 2018, 7:47 am

Once upon a time, courts might wink and nod at “merger objection” cases and cooperate in their settlement. But with these cases now approaching 50 percent of all securities class actions, this “business-as-usual” approach cannot (and should not) continue. As a result, this may be the best of times for the established plaintiff’s bar in […]

Posted in Class Actions, Top | Tagged M&A Cases

N.Y. judge rejects ‘worthless’ disclosure-only deal in M&A class action

By Securities Docket on February 16, 2018, 8:35 am

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 […]

Posted in Class Actions, Top | Tagged M&A Cases, Settlements

Is Deal Litigation in Delaware Done? | The D&O Diary

By Securities Docket on May 23, 2017, 6:34 pm

As documented on this site (for example, here and here) and elsewhere, deal litigation has been shifting from Delaware Chancery Court to courts in other states and to federal courts. This shift is largely the result of two Delaware court decisions, the Delaware Supreme Court’s 2015 decision in Corwin v. KKR Financial Holdings LLC  (here) […]

Posted in Class Actions, Top | Tagged M&A Cases

A “Tidal Wave of Change” in Merger Objection Litigation | The D&O Diary

By Securities Docket on March 3, 2017, 4:45 pm

In response to concerns that virtually every merger transaction was attracting at least one lawsuit, Delaware’s legislature and judiciary acted to try to cut down on the merger objection litigation in the state’s courts. In 2015, Delaware’s legislature adopted a provision expressly allowing corporations organized under the state’s law to adopt bylaw provisions designating Delaware’s […]

Posted in Class Actions, Top | Tagged M&A Cases

Posner opinion blasts class actions that are ‘no better than a racket’

By Securities Docket on August 12, 2016, 10:32 am

“In this case the benefit for the class was not meager; it was nonexistent,” Posner wrote. “The type of class action illustrated by this case—the class action that yields fees for class counsel and nothing for the class—is no better than a racket. It must end. No class action settlement that yields zero benefits for […]

Posted in Class Actions, Top | Tagged M&A Cases

Delaware Merger Objection Lawsuit Filings Decline in Response to Chancery Court’s Rejection of Disclosure-Only Settlements | The D&O Diary

By Securities Docket on November 18, 2015, 11:17 am

As I have noted in recent posts, several members of the Delaware Court of Chancery have made it clear that they are increasingly skeptical of disclosure-only settlements in merger objection lawsuits. It now appears that the Chancery Court rulings are starting to have an impact at the supply end of the food chain; according to […]

Posted in Class Actions, Top | Tagged M&A Cases

Dole C.E.O. and Aide Found Liable for $148 Million in Buyout – The New York Times

By Securities Docket on August 28, 2015, 8:49 am

The judge found on Thursday that Mr. Murdock, the company’s chief executive, and a top lieutenant fraudulently drove down the company’s stock price so he could buy the business at a cheaper price in its 2013 leveraged buyout. In his opinion, Vice Chancellor J. Travis Laster of the Court of Chancery in Delaware ordered Mr. […]

Posted in Industry, Top | Tagged M&A Cases

The Beginning of the End of the Merger Objection Lawsuit Curse? | The D&O Diary

By Securities Docket on July 17, 2015, 8:58 am

One of the great curses of the corporate litigation environment in recent years has been the proliferation of merger objection suits, the incidence of which has gotten to the point that now just about every large merger deal draws at least one lawsuit, and sometimes several. However, if recent developments in the Delaware Chancery Court […]

Posted in Class Actions, Industry, Top | Tagged M&A Cases

The beginning of the end of ‘deal tax’ litigation boom? — On the Case

By Securities Docket on July 12, 2015, 9:07 pm

If it had just been Vice Chancellor Travis Laster of Delaware Chancery Court sounding off about the blight of so-called deal tax M&A suits, the Delaware bar might have been able to chalk up this week’s developments to the judge’s occasional tendency to rile the complacent. But it isn’t just Laster. Something is afoot in […]

Posted in Class Actions, Top | Tagged M&A Cases

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