In In re: Shanda Games Limited Securities Litigation, (2d. Cir.; 2/25), the 2d Cir. reversed a district court’s ruling & allowed plaintiffs to proceed with securities law claims premised on allegedly false and misleading projections included in a merger proxy and on the target board’s statement that the merger was “fair” to the minority stockholders. The […]
M&A Disclosure: 2nd Cir Upholds Claims Targeting Projections & Board’s Opinion on Deal’s Fairness