Chancery Should Reconsider Its Decision In Trulia

By Michael Maimone and Joseph Schoell, Drinker Biddle & Reath LLP (May 9, 2017, 10:34 AM EDT) -- Over the past year, much has been written about In re Trulia Inc. Shareholder Litigation.[1] This decision of the Delaware Court of Chancery has been (a) described as "a devastating blow to disclosure settlements,"[2] (b) recognized as a response to "the abusive nature of much M&A litigation,"[3] (c) identified as "the procedural prong of the Delaware courts' general effort to reduce the volume of unnecessary M&A litigation,"[4] (d) branded "a new regime for the court's consideration of proposed disclosure-based settlements of litigation challenging M&A transactions,"[5] (e) acknowledged as not a mere "clamp on disclosure-only settlements in merger and acquisition lawsuits; [but having] established a new paradigm for what kinds of challenges to deals will pass muster in" Delaware,[6] and (f) characterized as "a new rule for evaluating disclosure settlements — the 'plainly material' standard — and expressed a preference for disclosure claims to be either litigated or mooted."[7] All of these descriptions of Trulia were made by commentators in one publication — Law360 — and many more articles in many more publications have been written predicting the impact of Trulia....

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!