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January 7, 2019

2018 Saw “Heightened” Pace of Securities Filings

Kevin LaCroix of D&O Diary said that securities lawsuit filings “remained well above historical patterns” in 2018 and were “significantly inflated by the number of federal court merger objection lawsuit filings.”

There were 403 total federal lawsuit filings last year, which is slightly below 2017’s total of 412 but 209 percent above the 1996-2016 annual average number of 193. Merger-related lawsuits composed about 46 percent of this total. LaCroix attributes the heightened merger litigation to Delaware’s 2016 Trulia decision, which shifted such lawsuits from state to federal court.

LaCroix cited research from the U.S. Chamber Institute for Legal Reform that set the table for a discussion on reforms to the system.

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