News & Analysis as of

Class Action › Trulia

A class action is a type of legal action where a representative individual or group of individuals can bring a claim on behalf of a larger group or class who share a common legal interest.
A&O Shearman

Delaware Court Of Chancery Clarifies Standard Applicable To Mootness Fee Awards For Supplemental Disclosures

A&O Shearman on

On July 6, 2023, Chancellor Kathaleen St. J. McCormick of the Delaware Court of Chancery issued a written opinion explaining a prior bench ruling on a mootness fee awarded to plaintiff’s counsel in connection with a putative...more

Seyfarth Shaw LLP

Judge Posner Called It a “Racket”: A Federal Judge Pushes Back Against a Very Similar “Mootness Fee” Petition in Federal Merger...

Seyfarth Shaw LLP on

In a recent decision from the United States District Court for the Southern District of New York, a federal Judge pushed back against the common but abusive practice of “mootness fee” payoffs in public M&A deals. In the...more

Allen Matkins

Court of Appeal Has "No Comment" On Trulia

Allen Matkins on

In 2016, the Delaware Court of Chancery famously put the brakes on disclosure only settlements, warning "to the extent that litigants continue to pursue disclosure settlements, they can expect that the Court will be...more

Miles & Stockbridge P.C.

Mootness Fees in Maryland Stockholder Litigation

Miles & Stockbridge P.C. on

The Delaware Court of Chancery fundamentally altered the M&A litigation landscape when it expressed its skepticism of disclosure-only settlements in the case of In re Trulia, Inc. Stockholder Litigation, 129 A.3d 884 (Del....more

Skadden, Arps, Slate, Meagher & Flom LLP

Securities Class Action Filings Reach Record High

Skadden, Arps, Slate, Meagher & Flom LLP on

As expected, securities class action filings reached a high-water mark in 2017. In fact, last year’s total of 400-plus filings was the second-highest on record, topped only by 2001, when the number was skewed by more than 300...more

A&O Shearman

Delaware Court Of Chancery Recommends Limiting The Preclusive Effect Of Prior Decisions On Demand Futility In Derivative Lawsuits ...

A&O Shearman on

On July 25, 2017, Chancellor Andre G. Bouchard of the Delaware Court of Chancery issued a supplemental opinion, responding to a remand order from the Delaware Supreme Court, in which Chancellor Bouchard recommended that the...more

Moore & Van Allen PLLC

NC Bar on Notice: Business Court May Increase Scrutiny for Approval of Disclosure-Only Class Action Settlements & Attorneys’ Fees

Moore & Van Allen PLLC on

Rolling into the new year, North Carolina attorneys are on notice that the ability to gain approval of class action settlements and related attorneys’ fees may become more difficult in some cases. In recent years, we have...more

Pillsbury Winthrop Shaw Pittman LLP

Delaware Court of Chancery Clamps Down on Disclosure-Only Settlements

Pillsbury Winthrop Shaw Pittman LLP on

In recent years, lawsuits challenging mergers and acquisitions have become almost ubiquitous. Virtually all of these cases settled for disclosure-only settlements in which the target’s stockholders received no money. Of...more

Brooks Pierce

"Giving" And "Getting": The NC Business Court On Disclosure Only Class Action Settlements

Brooks Pierce on

Disclosure only settlements are in deep trouble in Delaware based on the Court of Chancery's recent decision in In re Trulia Inc. Stockholder Litigation. That decision is said to have sounded a "death knell" in Delaware for...more

Morris James LLP

Court of Chancery Approves Disclosure Settlement Post-Trulia and Finds Management Projections Plainly Material

Morris James LLP on

As detailed in a prior post (available here), the ruling in In re Trulia, Inc. Stockholders Litigation, 2016 WL 270821 (Del. Ch. Jan. 22, 2016) changed the legal landscape for so-called disclosure settlements. Among other...more

Morrison & Foerster LLP

Delaware Chancery Court Rejects Disclosure-Only Settlement in Trulia/Zillow Merger Litigation, Making Clear Such Settlements Will...

Morrison & Foerster LLP on

On January 22, 2016, Delaware Chancellor Andre C. Bouchard rejected a proposed “disclosure-only” settlement in In re Trulia Stockholder Litigation. The decision confirms the Chancery Court’s growing skepticism for...more

Fenwick & West LLP

M&A Litigation Update: Delaware Chancery Court Delivers Devastating Blow to Disclosure Settlements

Fenwick & West LLP on

A new decision makes clear that parties should no longer expect the Delaware Court of Chancery to approve broad settlements of M&A class actions based on supplemental proxy disclosures. Chancellor Andre Bouchard issued a...more

Proskauer - Corporate Defense and Disputes

Delaware Court of Chancery Rejects Another Disclosure-Only M&A Settlement and Warns of “Increasingly Vigilant” Scrutiny

Proskauer - Corporate Defense and Disputes on

The Delaware Court of Chancery dealt another blow to disclosure-only settlements of merger litigation and refused to approve a proposed class-action settlement arising from Zillow, Inc.'s acquisition of Trulia, Inc. ...more

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