According to a recent expert analysis in Law 360, federal court challenges to announced M&A deals have not decreased as a result of the COVID-19 pandemic. In fact, last year approximately 95 of the estimated 122 M&A class action deal challenges were filed in the U.S. District Court for the District of Delaware jointly by one group of lawyers at Rigrodsky Law PA and RM Law Group LLP.
“These complaints are similar to the class action complaints and almost 70% of them have been voluntarily dismissed, many in very short timeframes,” according to the analysis. “Like the class actions, a majority of the dismissals of the non-class actions follow the filing of what appear to be superficial supplemental disclosures and likely involve mootness fees paid to plaintiffs counsel.”
