201712.06
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Cain et al. Release Updated Figures on M&A Litigation

Matthew D. Cain, Jill Fisch, Steven Davidoff Solomon and Randall S. Thomas have updated The Shifting Tides of Merger Litigation, a paper that surveys trends in mergers and acquisitions (M&A) class action litigation.  The new version adds updated statistics for the first ten months of 2017, including two important data points.  First, the overall rate of M&A litigation (as…

201711.08
0

Forum-Selection Bylaws as Defense-Side Options — Drulias v. 1st Century Bancshares, Inc.

Do defendants who agree to settle mergers and acquisitions litigation in one state, despite a forum selection bylaw in favor of another state’s courts, implicitly waive the right to enforce the bylaw if the settlement falls through?  A trial court decision from California, Drulias v. 1st Century Bancshares, Inc,1 has held that they do not.  The decision,…

201709.20
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Indiana Federal Court Rejects Disclosure-Only Settlement

Margrave Law, together with Einterz & Einterz, successfully represented a stockholder objector in a challenge to a disclosure-only M&A settlement before the United States District Court for the Southern District of Indiana. On August 16, 2017, the Indiana court held that none of the supplemental disclosures offered as consideration to stockholders were plainly material and…

201707.25
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Cornerstone Research Releases Securities Class Action Filings – 2017 Midyear Assessment

Cornerstone Research today issued its 2017 Midyear Assessment of securities class action litigation, showing a record level of securities fraud filings.  The report confirms what other analyses have concluded:  stockholder plaintiffs and their counsel responded to the Delaware Court of Chancery’s decision in In re Trulia, Inc. Stockholder Litigation, 129 A.3d 884 (Del. Ch. 2016)…

201703.24
1

Margrave Law Presents at UCLA Conference: “Can Delaware Be Dethroned?”

On February 17, 2017, Anthony Rickey, along with William B. Chandler III of Wilson Sonsini Goodrich & Rosati, presented The Trouble with Trulia:  Re-evaluating the Case for Fee-Shifting Bylaws as a Solution to the Overlitigation of Corporate Claims at a conference hosted by UCLA School of Law’s Lowell Milken Institute for Business Law and Policy.  Discussion of The…

201608.16
1

Approved Disclosure Settlements Post-Trulia

Events of the last month have clarified trends in mergers and acquisitions litigation since the Delaware Court of Chancery’s decision in In re Trulia, Inc. Stockholders Litigation, 129 A.3d 884 (Del. Ch. 2016).  Cornerstone Research revealed that the number of major mergers and acquisitions transactions subject to stockholder litigation fell from 93 percent in 2014…

201608.03
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Cornerstone Research Releases Report on Legal Challenges to M&A Deals

M&A Deal Litigation Falls in Delaware, Nationwide Cornerstone Research has released Shareholder Litigation Involving Acquisitions of Public Companies–Review of 2015 and 1H 2016 M&A Litigation.  The headline conclusion is that last year–for the first time since 2009–less than 90 percent of M&A deals valued over $100 million were subject to shareholder litigation.  In the first half of…

201608.01
0

New Jersey Court Rejects Disclosure-Only Settlement

Margrave Law, together with Webber McGill LLC, successfully represented a stockholder objector in a challenge to a disclosure only M&A settlement before the Superior Court of the State of New Jersey for Union County. On June 6, 2016, the New Jersey court held that none of the supplemental disclosures offered as consideration to stockholders were…