Corwin Ruling Cut Del. Investor M&A Suits, Legal Pros Say
By Dorothy Atkins (October 28, 2019, 8:37 PM EDT) -- Delaware's courts have seen a drop in proposed class actions filed by investors challenging mergers in the wake of the state high court's 2015 Corwin ruling, spurring more securities litigation in federal court and a rise in "mootness fees" outside the state, experts say.
Between 2011 and 2014, shareholders of public companies challenged more than 90% of deals valued over $100 million, and 97% of those challenges were brought in state courts such as the Delaware Chancery Court, according to Cornerstone Research's review of 2018 mergers and acquisitions litigation released Sept. 17.
William M. Lafferty of Morris Nichols Arsht & Tunnell...
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