Takeover Litigation in 2014

8 Pages Posted: 22 Feb 2015

See all articles by Matthew D. Cain

Matthew D. Cain

Berkeley Center for Law and Business

Steven Davidoff Solomon

University of California, Berkeley - School of Law; University of California, Berkeley - Berkeley Center for Law, Business and the Economy; European Corporate Governance Institute

Date Written: February 20, 2015

Abstract

This report provides preliminary statistics for takeover litigation in 2014. Takeover litigation continued at a "steady state" and at an extremely high rate. Lawsuits were brought in 94.9% of takeovers in 2014 versus 39% in 2005. This is the fourth year in a row that the rate of litigation was over 90%. Multi-jurisdictional litigation continued a two-year decline, perhaps in part due to the rise of forum selection by-laws. 33.8% of deals experienced suits in multiple states compared to 41.8% in 2013 and 52.7% in 2012. Each transaction attracted an average number of 4.3 lawsuits. Median attorneys’ fees for settlements rose to $550 thousand from $450 thousand in 2013. 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 2014 (February 20, 2015). Available at SSRN: https://ssrn.com/abstract=2567902 or http://dx.doi.org/10.2139/ssrn.2567902

Matthew D. Cain

Berkeley Center for Law and Business ( email )

215 Boalt Hall
Berkeley, CA 94720-7200
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

European Corporate Governance Institute ( email )

c/o ECARES ULB CP 114
B-1050 Brussels
Belgium

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