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Trend Against Disclosure-Only Settlements Continues

Law360 (March 2, 2018, 12:06 PM EST) -- The New York Supreme Court, New York County, recently declined to approve what the court described as a “peppercorn and a fee” disclosure-only settlement in a public company merger and acquisition litigation, noting that while until recently most courts would routinely approve such settlements, “that is no longer the case.” Applying New York’s Gordon standard for approving such settlements — which only requires “some benefit for the shareholders” and is less exacting than standards applied in many other jurisdictions, most notably Delaware’s “plainly material” standard under...
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