Del. Plaintiffs Attys Fear Exodus Of Chancery Deal Suits
Law360, Wilmington (May 19, 2017, 7:36 PM EDT) -- Two of the most talked-about recent major Delaware corporate law rulings have already chased a number of shareholder merger claims out of the First State’s courts, and some on the plaintiffs bar worry that the legal landscape is leading to a place where such litigation is snuffed out altogether.
The two rulings — Corwin, which found that an informed shareholder vote to approve a deal “cleansed” it of many fiduciary duty claims, and Trulia, which was widely seen as having ended the practice of disclosure-only merger litigation settlements — came in quick succession, respectively in October 2015 and January 2016.
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