Recent Posts

Delaware Court of Chancery Rejects Two Separate M&A Settlements on Same Day
Posted on 13 Jul 2015 by Francis G.X. Pileggi

Two rejections by the Delaware Court of Chancery last week, on the same day, of two separate proposed settlements of two unrelated class actions challenging a merger, were reported by The Chancery Daily , Professor Bainbridge and Alison Frankel of Thomson... Read More

Delaware Court of Chancery Denies Motion For Summary Judgment on Merger Challenge
Posted on 4 Apr 2014 by Francis G.X. Pileggi

Frank v. Elgamal , C.A. No. 6120-VCN (Del. Ch. Mar. 10, 2014) [ an enhanced version of this opinion is available to subscribers ]. Why this case is noteworthy : For many readers, this 94-page decision on a motion for summary judgment is useful... Read More

The Beginning of the End of the Merger Objection Lawsuit Curse?
Posted on 17 Jul 2015 by Kevin M. LaCroix

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... Read More

Substantiating the Explosive Growth in M&A-Related Litigation
Posted on 17 Jan 2012 by Kevin M. LaCroix

There seems to be a general consensus that the amount of M&A-related litigation is increasing. The question of how to quantify the increase has attracted quite a bit of attention lately. In a recent post , I previewed a forthcoming report from... Read More

M&A-Related Litigation Has Replaced Stock Drop Suits as Plaintiffs' Securities Lawyers' Lawsuit of Choice
Posted on 2 Jan 2012 by Kevin M. LaCroix

In a prior post ( here ), I examined the mounting problems associated with the increasing levels of M&A-related litigation. A recent academic paper takes a closer look at these issues and concluded, among other things, that M&A-related lawsuit... Read More

Dealing with Multi-Jurisdiction M&A Litigation
Posted on 23 May 2011 by Kevin M. LaCroix

One of the most distinctive trends in corporate and securities litigation in recent years has been the rise in litigation related mergers and acquisition activity . Cornerstone Research's most recent year-end litigation filing study , released... Read More

All the M&A-Related Litigation Reference Material in One Convenient Location
Posted on 13 Feb 2012 by Kevin M. LaCroix

During last week's PLUS D&O Symposium, several of the panels discussed the problems surrounding the current onslaught of M&A-related litigation - and appropriately so, as the surging levels of M&A litigation is one of the most distinct... Read More

Takeover Litigation in 2011
Posted on 18 Feb 2012 by Kevin M. LaCroix

In their paper "A Great Game: The Dynamics of State Competition and Litigation" ( here ), Ohio State Law Professor Steven Davidoff and Notre Dame Finance Professor Matthew Cain analyzed the M&A related litigation during the period 2005... Read More

Delaware: Time’s Up for Disclosure-Only Settlements in Merger Objection Suits?
Posted on 21 Sep 2015 by Kevin M. LaCroix

The fact that these days virtually every public company M&A transaction draws at least one merger objection lawsuit has provoked concern from many quarters. As I noted in a prior post , it recently became clear that among those concerned are the judges... Read More

Cornerstone Research Releases 2014 M&A Litigation Report
Posted on 27 Feb 2015 by Kevin M. LaCroix

According to the latest report from Cornerstone Research, during 2014, over 90 percent of M&A transactions resulting in at least one lawsuit, but each deal attracted a smaller average number of lawsuits and in fewer jurisdictions than in past years... Read More

One Plaintiff, Dozens of Merger Objection Lawsuits, Millions in Attorneys’ Fees, Zero for Shareholders
Posted on 19 Feb 2015 by Kevin M. LaCroix

It is now well-established that pretty much every M&A deal attracts at least one lawsuit from a shareholder objecting to the transaction. According to research by Notre Dame business professor Matthew Cain and Ohio State law professor Steven Davidoff... Read More