The impact of the continued focus by the Department of Justice ("DOJ") and the Securities and Exchange Commission ("SEC") on enforcing
A classic race to the courthouse ended in March of this year without a winner.
As the economic collapse spawns a wave of complex white collar prosecutions, and as the volume of documents in such cases grows exponentially, an executive’s ability to defend himself or herself adequately requires substantial financial resources.
In recent years, the announcement of an impending merger has often been followed by the filing of a securities fraud class action seeking to enjoin the proposed transaction.
Recent dramatic changes in the availability and cost of debt financing and other market conditions have caused an increasing number of buyers to invoke clauses in acquisition agreements intended to permit a buyer to terminate a pending acquisition.