The Delaware Chancery court has scrutinized the practice of reflexively filing class action lawsuits challenging public company mergers, and then settling in exchange for additional disclosures and payment of the plaintiffs’ counsel’s fees. The January 22 In re Trulia, Inc. Stockholder Litigation calls for a paradigm shift in the way these shareholder suits are litigated. Merging corporations should expect fewer lawsuits, but more uncertainty in litigations that are filed. Here are the key takeaways that deal participants should keep in mind.
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