Washington & Lee law professor Lyman Johnson is invited to contribute to both the Columbia Law School Blue Sky Blog and the Harvard Law School Forum on Corporate Governance and Financial Regulation in anticipation of his forthcoming article The Dwindling of Revlon (with R. Ricca). From the abstract:
This article traces the dramatic dwindling of the iconic Revlon doctrine. Over the past several years, we observe a paradox in M&A litigation. The number of challenges to “done deal” transactions has skyrocketed, but the number of successful Revlon claims – those procuring a remedy – has plummeted. Having set out to suggest, as a theory and policy matter, that Revlon might be extended into the attempted but failed “no deal” context, we conclude, ironically, that today there is little remedial clout to the Revlon doctrine in any setting.
Professor Johnson’s post at the CLS Blue Sky Blog appears today, January 30th, here.