November 6, 2014
In her article, “New Study defines top 5 firms in M&A class actions, says rep deserved,” Reuters' Alison Frankel discusses the findings of a new academic study that identify BLB&G as one of the top five leading firms prosecuting M&A class actions who achieve “statistically significant superior outcomes for their clients.”
The study, which is entitled “Zealous Advocates or Self-Interested Actors? Assessing the Value of Plaintiffs’ Law Firms in Merger Litigation,” was conducted by Professor Randall Thomas of Vanderbilt Law, C.N.V. Krishnan of Case Eastern’s business school, and Steven Davidoff Solomon of UC Berkeley School of Law, who developed a statistical model that compared firms based on four criteria: raw number of filings; lead counsel appointments; lead counsel appointments involving institutional investors as lead plaintiffs, and fee awards when the firm represented institutional investors as lead counsel.
According to the study, BLB&G was among those firms that bring better cases and litigate more actively than other plaintiffs’ firms; have more docket entries and are likelier to ask for expedited proceedings and preliminary injunctions; have their cases dismissed less often; and win the best results for their clients. The authors conclude that, even after controlling for the top firm’s ability to pick and choose their cases, “the top lead firms get superior lawsuit outcomes for their clients and prosecute cases more successfully.”