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Today it is not a matter of whether a large corporate transaction will result in a lawsuit, but a matter of when and where. The Delaware Court of Chancery presides over an evolving and sophisticated body of law in which the apparent fairness of outcomes and reasonableness of negotiation and litigation decisions are intertwined and matter a great deal. Parties anticipating review, or even hoping to avoid it, would be wise to heed the lessons learned from 2013 and integrate litigation strategies at the outset of corporate decision-making.

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