Use 'Blind Bidding' as a Device to Settle Multi-Defendant Cases

, New York Law Journal


Dickstein Shapiro partners Peter W. Morgan and Nicholas J. Zoogman write that defendants in a multiparty case typically measure their own success or failure in comparison to other defendants' results - often to a much greater degree than by the perceived value of their own settlement as a standalone proposition. When circumstances do not allow defendants to agree upon an allocation formula, blind bidding may serve as a creative solution to relative value problems.

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