In his opinion rejecting a settlement in the lawsuit challenging a $3.5 billion merger of two real estate websites, Chancellor Andre G. Bouchard said the Delaware Court of Chancery’s assessment of disclosure-only settlements “must evolve,” warning that a tougher stance and new standards would apply moving forward.
The much-anticipated decision in In re Trulia Stockholder Litigation followed a spate of rulings in similar suits, where judges on the Chancery Court voiced growing distaste and frustration with the settlements, which offer shareholder plaintiffs additional information—and not money—in exchange for broad releases of claims against the defendants.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
