September 22, 2016

Disclosure-Only Settlements After Trulia

This blog from Anthony Rickey of Margrave Law reports on his survey of post-Trulia disclosure-only settlements in Delaware and other jurisdictions – and the results may come as a bit of a surprise:

The Walgreen decision has led at least one academic to suggest that “[I]t appears Trulia is on its way to general acceptance in the context of merger litigation.” Yet decisions endorsing Trulia appear to be less common than approvals of disclosure settlements.

Courts in California, Delaware, Indiana, Michigan, New York, Ohio and Virginia have approved a total of 14 disclosure-only settlements in M&A litigation subsequent to the Trulia decision.  Not all of these cases involved Delaware companies – but eight of them did, including three settlements approved by the Delaware Chancery Court itself.

John Jenkins