Friday, May 14, 2010

‘You’re selling? Then we’re suing.'

Lawyers specializing in shareholder litigation must spend their days crouched like sprinters, the necessary court papers in hand.

Hours after the pending sale of the Rubio’s fish taco chain was announced, lawsuits alleging a breach of fiduciary responsibility by the seller had already been filed. Emergency-room doctors don't work that fast.

Suits accusing current owners for selling too low have now become as commonplace as the need to hire an army of lawyers to steer a deal through to its consummation. All those counselors involved for both parties, and there’s still room for their brethren of the bar to lodge a court challenge?

Sounds as if something’s not right there.

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