New paper documents mootness fee phenomenon in M&A cases, proposes solution [Reuters]
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Source: Reuters
New paper documents mootness fee phenomenon in M&A cases, proposes solution - Reuters 9 Min Read (Reuters) - If you’re a regular reader of my column, you won’t be surprised by the central finding in a newly-posted draft law review article by law professors Matthew Cain and Steven Solomon of Berkeley, Jill Fisch of Penn and Randall Thomas of Vanderbilt. In “Mootness Fees,” which will eventually be published in the Vanderbilt Law Review, the professors document a phenomenon I’ve been covering for a couple of years: Corporations paying mootness fees to plaintiffs’ lawyers who file and quickly dismiss shareholder class actions challenging M&A deals in federal court. But the professors, some of whom have been tracking the swerving course of shareholder M&A class actions for years, have done the invaluable work of quantifying the rise of mootness fees – and proposing solutions to what they call the “risk of blackmail litigation.” Mootness fees have come into vogue in the few years since Del
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