Excerpt:
A long-awaited decision issued on Monday by the 7th U.S. Circuit Court of Appeals could make it easier for companies involved in M&A deals to fight back against shareholder lawsuits demanding beefed-up disclosures in proxy filings. The appeals court ruled that class action watchdog Ted Frank of the Hamilton Lincoln Law Institute can intervene to protest $322,500 in mootness fees that pharmaceutical company Akorn agreed to pay to shareholder lawyers in exchange for their dismissal of lawsuits challenging Akorn’s proxy disclosures in its $4 billion merger with Fresenius Kabi. [...]
