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Merger litigation; M&A; corporations; civil procedure; federalism; comity; reverse auction; objector; multi-jurisdictional litigation; Delaware
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The Market For Preclusion In Merger Litigation, Sean J. Griffith, Alexandra D. Lahav
The Market For Preclusion In Merger Litigation, Sean J. Griffith, Alexandra D. Lahav
Faculty Scholarship
The recent finding that corporate litigation involving Delaware companies very often takes place outside of Delaware has disturbed the long-settled understanding of how merger litigation works. With many, even most, cases being filed and ultimately resolved outside of Delaware, commentators warn that the trend is a threat to shareholders, to Delaware, and to the integrity of corporate law generally. Although the out-of-Delaware trend suggests that litigants are seeking to use the procedural rules of other jurisdictions to their advantage, we argue that the result need not threaten the interests of any of the stakeholders in deal litigation. We reframe the …