February 26, 2008
Deal Are Down But Litigation Over Deals is Up
The number of deals has fallen dramatically this year but litigation over pending deals is way up. As note by Karnitichning, Rappaport & Ng in today's Wall Street Journal in a timely piece, collegiality it out and "law of the jungle" is in. No only are deal principals suing each other, purchasers and financiers are also suing each other. It points up to a well-tested truism: The document language, sweated over by lawyers and mocked by clients anxious to close, matters, really matters, when times get tough. The language contains a client's downside protections.
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