Edited by Sean Griffith, Jessica Erickson, David H. Webber and Verity Winship
Chapter 19: What do we know about law firm quality in M & A litigation?
This chapter inquires into law firm quality as measured by outcomes in class action shareholder litigation. The chapter reviews the state of the literature on law firm quality and asks what can be known about plaintiff and defense-side firms in class action shareholder litigation. Several dimensions of the question are explored, such as: How do clients select law firms? What substantive and reputational factors influence law firms’ decisions to represent a client? To what extent does the client influence the outcome? How should a law firm’s performance be measured when its client or potential client, particularly a repeat player defendant in M & A litigation, dictates the law firm’s strategy in handling the litigation? The chapter closes by emphasizing the relatively underdeveloped state of the empirical evidence, offering several directions for future research.
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