In this Q&A, we speak with Professor David Denis, who researched the empirical data on fairness opinions and published “Information Production by Investment Banks: Evidence from Fairness Opinions” last year in the Journal of Law and Economics. This article directly examines whether financial advisors’ fairness opinions tend to under- or over-value the acquisition target and, if so, by how much. To read the interview, click the link below.
Leakage theory of loss causation and damages in securities litigation
Loss causation is typically established through the identification of corrective disclosures that are found to cause securities prices to decline, often in...