Closing Down 'Litigation Kennels'

Law360, New York (May 1, 2008, 12:00 AM EDT) -- The Delaware Court of Chancery recently exposed a “disturbing” practice by a group of serial plaintiffs who buy small amounts of stock in hundreds of public companies for the purpose of filing lawsuits to obstruct corporate mergers and acquisitions. See In re SS&C Technologies, Inc. S’holders Litig., C.A. No. 1525-VCL, 2008 WL 612256 (Del. Ch. Mar. 6, 2008). Companies that face future merger-related stockholder lawsuits should take heed of this decision and should thoroughly investigate the background of any purported stockholders that file suit.

The SS&C...
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