Bloomberg BNA reports on ILR's recent statement regarding the Delaware Chancery Court's "heightened review of disclosure-only settlements."
“Rejecting those settlements should deter unjustified claims, but it may also produce new demands for cash payments and even more shareholder harm,” said ILR President Lisa A. Rickard. “And unfortunately, the Court’s endorsement of attorneys’ fees for dismissed cases creates a new incentive for abusive claims.”
“The only way to stop baseless lawsuits is for the Court to use its authority to impose financial penalties on lawyers and plaintiffs who insist on pursuing such claims,” Rickard said.
Read the full story here.