Friday, February 17, 2012
Bloomberg has a very good piece on the current state of transaction related litigation. It ends with this gem from Prof. John Coffee:
“If you pay the class counsel a fee in any case, it’s like putting a saucer of milk for a kitten at your back door,” Coffee explained. “Overnight you’ll have 20 cats.”
Coffee's biases are pretty clear. No, seriously it's a good piece, balanced about an issue where there is really no clear right or wrong answer. It also has a quote of Vice Chancellor Laster making a point in Del Monte that I made a couple of years ago in my Bulletproof paper on deal protections, so I like that.
The piece also provides some additional useful information on settlement activity over the past year or so (below).