Florida Appellate Court Adopts Rigorous Standard for Disclosure Settlements in M&A Litigation

On July 13, 2018, Florida’s Second District Court of Appeal adopted a new standard for trial court review of “disclosure settlements” in mergers and acquisitions class actions in Florida.  In such settlements, a stockholder plaintiff agrees to release class claims against corporate defendants in exchange for additional pre-merger proxy disclosures, and then seeks a court-approved…