Attorneys & Professionals
Natalia Steele, an associate in the Vorys Cleveland office and a member of the litigation group, authored an article for the American Bar Association Insurance Services: Safe Talk newsletter. The article, which was titled “Merger & Acquisition Strike Suits: What’s a Bank To Do?,” highlighted the increasing trend of lawsuits being filed against banks and their directors and officers on behalf of shareholders regarding a bank merger or acquisition.
The article states:
“Over the last several years, while merger and acquisition activity has been on the increase, challenges to M&A deals and strike suits (lawsuits aimed at gaining a quick private settlement that would be less than the defendant’s legal costs), have also reached an unprecedented frequency.
In 2007, shareholders challenged 53% of all mergers valued at $500 million or more. By 2013, 94% of M&A deals were challenged. Smaller transactions, $100 million or less have also seen an uptick in challenges.”
To read the article, visit the Safe Talk website.