This paper analyzes the conduct of mutual funds in shareholder litigation. We begin by reviewing the basic forms of shareholder litigation and the benefits such claims might offer mutual fund investors. We then investigate, through an in-depth...Read more
Using a hand-collected sample of 1,739 class actions that challenge the fairness of M&A transactions from the period 2003 through 2012, we examine the effectiveness of plaintiffs? law firms. We divide plaintiff law firms into top-10 and non-...Read more
This paper empirically analyzes a private ordering solution to multiforum shareholder litigation: exclusive forum provisions in corporate charters and bylaws. These provisions, whose use has become quite widespread, require that all corporate law...Read more
In US derivative cases, plaintiffs? lawyer fees and monetary awards have a distorting
effect on shareholder value. We evaluate the benefits of corporate litigation without
these externalities using a dataset for the Netherlands...Read more
Corporate legal scholarship largely focuses on addressing managerial agency costs. As part of this paradigm, legal scholars examine how effectively representative litigation, whether class actions or derivative suits, control managerial agency...Read more
Event studies have become increasingly important in securities fraud litigation after the Supreme Court?s decision in Halliburton II. Litigants have used event study methodology, which empirically analyzes the relationship between the disclosure...Read more
Shareholder litigation has been a prominent topic in the comparative corporate governance literature for decades. However, scholars trained in a particular jurisdiction often tend to look for types of lawsuits familiar from their home turf. In...Read more
In 2015, Delaware made several important changes to its laws concerning merger litigation. These changes, which were made in response to a perception that levels of merger litigation were too high and that a substantial proportion of merger cases...Read more
Low-quality securities class action lawsuits disproportionally target firms with valuable innovation output and impose a substantial implicit "tax" on these firms. We establish this fact using data on class action lawsuits against U.S....Read more
Reforms to Korean corporate and securities law carried out in the wake of the 1997-1998 East Asian financial crisis included a mandate that boards include a minimum number of outside directors and facilitation of shareholder lawsuits against...Read more
