A new paper posted on the Harvard Law School Forum on Corporate Governance and Financial Regulation examines the surge in appraisal litigation and its effect on M&A activity. Professors Brian Broughman, Audra Boone, and Antonio Macias conducted an empirical study that implies that “appraisal remedies afford important protection for minority shareholders” during the period of their study. The paper is “Merger Negotiations in the Shadow of Judicial Appraisal.”