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Takeover Litigation in 2013

9 Pages Posted: 11 Jan 2014 Last revised: 3 Mar 2014

Matthew D. Cain

U.S. Securities and Exchange Commission

Steven Davidoff Solomon

University of California, Berkeley - School of Law; University of California, Berkeley - Berkeley Center for Law, Business and the Economy

Date Written: January 9, 2014

Abstract

Takeover litigation continues to be a much discussed issue in Delaware and among the corporate bar. This report provides preliminary statistics for takeover litigation in 2013. Based on preliminary statistics, takeover litigation continued to be brought at an extraordinarily high rate in 2013. 97.5% of all transactions experienced litigation. The average transaction attracted an average number of 7 lawsuits - an all time high. 41.6% of all transactions experienced multi-jurisdictional litigation down from 51.8% in 2012. Median attorneys’ fees for settlements remained relatively steady at $485 thousand per settlement. Further information and numbers are contained in the report.

Keywords: merger litigation, takeover litigation, Delaware, jurisdictional competition

Suggested Citation

Cain, Matthew D. and Davidoff Solomon, Steven, Takeover Litigation in 2013 (January 9, 2014). Ohio State Public Law Working Paper No. 236. Available at SSRN: https://ssrn.com/abstract=2377001 or http://dx.doi.org/10.2139/ssrn.2377001

Matthew D. Cain

U.S. Securities and Exchange Commission ( email )

United States Securities and Exchange Commission
450 Fifth Street, NW
Washington, DC 20549
United States

Steven Davidoff Solomon (Contact Author)

University of California, Berkeley - School of Law ( email )

215 Boalt Hall
Berkeley, CA 94720-7200
United States

University of California, Berkeley - Berkeley Center for Law, Business and the Economy ( email )

Berkeley, CA 94720-7200

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