October 28, 2007
Genesco: The Big Dump
The AP is reporting that Genesco Inc. has turned over more than 1.5 million pages of internal documents to The Finish Line Inc. in connection with Genesco's lawsuit to compel Finish Line to complete their previously agreed merger. Genesco here appears to be setting up a "full disclosure" strategy. This has two advantages. First, Genesco can portray itself as fully responding to Finish Line's claim that it has breached the disclosure provisions of the merger agreement -- "Look we didn't even object to your over-broad discovery request and gave you over one million documents -- now close this transaction". Second, this document dump will swamp Finish Line's attorneys with needless and mostly irrelevant documents; presumably Genesco's hope is that it will also distract Finish Line/UBS and their attorneys from their case and/or cause them to miss more important documents.
Ultimately, I feel very bad for the junior associates at Latham & Watkins and Jones Day, lawyers for UBS and the Finish Line, respectively, who now have to read through all of this. It is good times, though, to be a document reproduction service in Nashville.
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