Mergers & Acquisitions
Aug. 25, 2016
California courts may look closer at M&A litigation settlements
Following a decision by the Delaware Court of Chancery earlier this year, some predicted a rush out of Delaware to other jurisdictions — including California — in the hope that such courts would be more amenable to disclosure settlements. By Keola Whittaker and Anthony Rickey
As recently as 2014, stockholder plaintiffs challenged almost 95 percent of deals involving publicly traded companies valued above $100 million. In fact, these lawsuits were so common, and their outcome so predictable, that critics (and some courts) referred to them as a "merger tax."
These lawsuits follow a predictable pattern: Within days or weeks after the public announcement of a proposed merger, s...
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