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O'Melveny Lawyers Author Article on Protecting Financial Advisors in M&A LitigationJune 18, 2014
O'Melveny & Myers partner Abby Rudzin, senior counsel R. Scott Widen, and counsel Brad Elias recently authored the article “Protecting Financial Advisors in M&A Litigation,” which appears in the June 4, 2014, edition of The Review of Securities & Commodities Regulation. Unshielded by Delaware’s statutory protections for directors, financial advisors are new targets in M&A deal litigation: they are alleged to be aiders and abettors of the directors’ supposed breach of their fiduciary duties. The authors discuss the theory emerging in Delaware cases, including in particular the Rural Metro case, and apply their teaching to suggest seven steps financial advisors can take to reduce their risks in M&A transactions.
Rudzin and Elias are members of O'Melveny's Securities Litigation Practice Group and reside in the Firm's New York office. Widen is also based in New York and is a member of the Firm's Mergers and Acquisitions Practice.