SDNY Mootness Fee Refusal May Shake Up A Common Tactic

By Joseph Adams (February 24, 2022, 5:49 PM EST) -- A federal court in New York recently dealt a blow to the common litigation practice of plaintiffs counsel requesting a mootness fee when challenging disclosures made by public companies in mergers and other large transactions.

In the Feb. 7 Serion v. Nuance Communications Inc. decision, U.S. District Judge Paul Oetken of the U.S. District Court for the Southern District of New York issued an order denying a request by a lawyer representing an investor, Albert Serion, who had challenged the multibillion dollar acquisition of Nuance Communications Inc. by Microsoft Corp.

In that case, the plaintiff had filed a complaint alleging violations...

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