This report provides preliminary statistics for takeover litigation in 2014. Takeover litigation continued at a "steady state" and at an extremely high rate. Lawsuits were brought in 94.9% of takeovers in 2014 versus 39% in 2005. This is the fourth year in a row that the rate of litigation was...

This report provides preliminary statistics for takeover litigation in 2015. Takeover litigation was substantially disrupted in 2015 by the Delaware courts' willingness to challenge "disclosure only" settlements. For the full year, lawsuits were brought in 87.7% of completed takeovers versus...

The prosecution of criminals is costly, and subject to errors. In contrast to adversarial court procedures, the prosecutor is regarded as an impartial investigator and aide to the judge in inquisitorial justice systems. We show in a sequential prosecution game of a Bayesian court that a...

The appellate review system is intended to serve as an efficient remedy for imperfect judicial decision making. However, it can fulfill this task only when appeals are filed solely due to bad verdicts and are ex-ante unpredictable based on factors that are exogenous to the judge. Using data from...