NY Nine West Bankruptcy Decision Won't Chill Buyout Activity

Law360 (January 6, 2021, 4:43 PM EST) -- Business headlines have warned of a potential chilling effect on buyouts as a result of the Dec. 4, 2020, decision of the U.S. District Court for the Southern District of New York in In re: Nine West LBO Securities Litigation.

We do not believe the decision is likely to chill leveraged buyout, or LBO, activity, upend how LBOs have been conducted, or significantly increase the potential of liability for target company directors selling the company in a leveraged buyout. In our view, the court's result principally reflects the unusual aspects of this case.

The Nine West case involved the acquisition of The...

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