Sean Griffith was quoted in a Bloomberg Law article about M&A litigation moving from Delaware courts to federal courts following a ruling in the lawsuit stemming from online real estate database company Zillow acquiring competitor Trulia.
“How is a judge in a trial court somewhere in California or New Jersey supposed to know about Trulia if the parties don’t tell him or her?” asked Sean Griffith, a Fordham University law professor who filed an amicus brief objecting to the Trulia settlement. He warned that courts in other jurisdictions will not be alerted to the decision unless there is an objector to the settlement.
Griffith recently objected to an M&A settlement in New Jersey Superior Court, citing Trulia. In that case — Vergiev v. Aguero, Docket No. L-2276-15 — the court in June declined to approve the settlement.
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Griffith, Fisch and University of California, Berkeley, law professor Steven Davidoff Solomon co-authored a paper last year that suggested it is more appropriate for M&A claims involving public company disclosures to be policed under the federal securities laws than state law.