The recent boom in M&A has left opportunistic plaintiffs lawyers not only with plenty of targets for merger-related shareholder litigation but also tactical decisions to make about their most propitious forum. The uptick in filings outside of Delaware Chancery Court has prompted complaints from Delaware judges and securities defense lawyers about multi-front litigation with almost identical allegations.
Against that backdrop, a March 29 ruling by Chancellor William Chandler III, in litigation stemming from the $278 million private equity takeover of Allion Healthcare, will likely be cited by critics of the plaintiffs bar who assert that some merger suits are less about protecting shareholders than they are about attorneys’ fees for the lawyers who file them.
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