First off lets define "mitigation" - to act in such a way as to cause an offense to seem less serious...
So the way I see it is, if you have all your ships (say 5 ships) attack 1 enemy ship, the first round of weapons fire will do 40% damage. The next round of hits will not be as effective as the shields will have in some way "adjusted" or "re-modulated" to not take as much damage when the second round of weapons fire hits the shields. So the 2nd round only takes 25% damage, in theory the shields have gotten stronger (as they have been able to hold up better against the same amount of firepower). And it continues like that until the shields have received 100% damage in which they then fail. And hull damage beings to occur. It hasn't been mentioned at least to my knowledge if hull damage occurs as the shield are being hit ( perhaps due to impact stress? )
What does everyone else think?