Shareholder litigation challenging corporate mergers continues to rise, and some Pennsylvania M&A attorneys argue that their state offers corporate boards more protection from such suits than its neighbor to the south, Delaware. Not surprisingly, Delaware corporate attorneys dispute that claim, contending that their state has the expertise and necessary protections to better decide merger litigation.
In 2011, 29 percent of all securities litigation challenged a merger or acquisition by alleging a corporation’s board breached its fiduciary duties to its shareholders, according to data from the National Economic Research Associates, a White Plains, N.Y., research group.
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