‘Trulia’s’ Curb on Disclosure-Only Settlements May Resonate in Federal Courts, Observers Say


Professor Sean Griffith was quoted in Delaware Business Court Insider about the future of disclosure-only settlements.

Among them was Sean Griffith, a Fordham University School of Law professor who has criticized supplemental disclosures for failing to impact shareholder voting patterns. As the sole objector in the 2015 Riverbed merger settlement case, Griffith guided the court’s understanding of the issue in what came to be regarded as the precursor to Trulia.

Last December, Vice Chancellor Sam Glasscock III took the extraordinary step of awarding Griffith more than $10,000 in attorneys fees and costs for the benefit he provided to both the stockholder class and the court.

Griffith also acted as amicus curiae in the Trulia case. Speaking in January, he called Bouchard’s opinion a “nail in the coffin” for disclosure-only settlements.

“You are no longer selling out your rights for nothing,” Griffith said. “This is the closing of the door.”


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