Percentage of M&A Deals Attracting Litigation Continued to Decline in 2017

The percentage of M&A transactions valued over $100 million attracting at least one merger objection lawsuit continued to decline in 2017, according to a recent Cornerstone Research study. The July 18, 2018 study, entitled “Shareholder Litigation Involving Acquisitions of Public Companies: Review of 2017 M&A Litigation” (here), also reports that the average number of lawsuits filed per M&A deal and the percentage of M&A deal litigation voluntarily dismissed declined in 2017, as well. Cornerstone Research’s July 18, 2018 press release about the report can be found here.   The study is based on Cornerstone Research’s analysis of its database of 1,372 deals valued over $100 million and announced between November 19, 2006 and December 18, 2017. The study examines litigation challenging the deals and filed on behalf of shareholders of publicly traded target companies. The lawsuits typically allege that that the target company’s…

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