Lead Plaintiffs and Lead Counsel in Deal Litigation

Research Handbook on Mergers and Acquisitions (eds. Davidoff Solomon and Hill) (Elgar 2016).

16 Pages Posted: 6 Aug 2018

Date Written: December 1, 2016

Abstract

The shareholder lawsuit is the primary vehicle for enforcing corporate law. While closely related fields like securities regulation rely on private shareholder lawsuits to supplement the enforcement work of public regulators like the Securities Exchange Commission, corporate law enforcement depends largely on private rights of action brought by aggrieved investors and their lawyers. The purpose of these lawsuits is straightforward: to induce corporate fiduciaries like boards and managers to abide by the duties of loyalty and care in overseeing the corporation. There are many situations that implicate these fiduciary duties, but none that are as fraught with conflict and temptation as mergers and acquisitions (M&A). Not surprisingly, M&A generates a significant amount of litigation. This chapter assesses the evidence on a key facet of that litigation: the selection of lead plaintiffs and lead counsel.

Keywords: Lead Plaintiffs, Lead Counsel, Transactional Class Actions, Deal Litigaton, Merger Litigaton, Class Actions

JEL Classification: K22, K41

Suggested Citation

Webber, David H., Lead Plaintiffs and Lead Counsel in Deal Litigation (December 1, 2016). Research Handbook on Mergers and Acquisitions (eds. Davidoff Solomon and Hill) (Elgar 2016)., Available at SSRN: https://ssrn.com/abstract=3219553

David H. Webber (Contact Author)

Boston University School of Law ( email )

765 Commonwealth Avenue
Boston, MA 02215
United States
617-358-6194 (Phone)

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