Reynolds Holding is a Breakingviews editor who also writes from New York about the law. Before joining Breakingviews, he was a national editorial producer for the Law & Justice Unit at ABC News, a senior writer for Time magazine and the executive editor of Legal Affairs, the first general interest magazine about the law. He spent more than a decade as an investigative reporter and columnist for The San Francisco Chronicle, where he was named a Pulitzer Prize finalist for explanatory writing. Before becoming a journalist, he practiced corporate law at the New York firm of Debevoise & Plimpton. He graduated from Harvard College and Duke University School of Law.
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New rules and bank scandals boost financial fraud and class-action filings in Britain. Patent combatants flock to German judges. And spats over failed investments clog EU courts. The upshot: a lawsuit boom that may topple America as the world’s business litigation capital.
Anti-takeover protections adopted before threats arise are more apt to weather legal scrutiny. It’s one reason Allergan was able to resist Valeant’s $52 bln bid. When triggered reactively, they’re considered unfair surprises. Either way, shareholders often get unneeded cover.
A U.S. law shields firearms firms from product liability, making litigation over a Connecticut school tragedy a stretch. But the exemption arguably gives the likes of Bushmaster an unfair edge. The case will succeed if it prods Congress to treat gun companies like any others.
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