About: Private Securities Litigation Reform Act

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The Private Securities Litigation Reform Act of 1995, Pub.L. 104–67 (text) (PDF), 109 Stat. 737 (codified as amended in scattered sections of 15 U.S.C.) ("PSLRA") implemented several substantive changes in the United States that have affected certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation, and awards fees and expenses.

Attributes	Values
rdfs:label	Private Securities Litigation Reform Act (en)
rdfs:comment	The Private Securities Litigation Reform Act of 1995, Pub.L. 104–67 (text) (PDF), 109 Stat. 737 (codified as amended in scattered sections of 15 U.S.C.) ("PSLRA") implemented several substantive changes in the United States that have affected certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation, and awards fees and expenses. (en)
dcterms:subject	United States federal securities legislation Acts of the 104th United States Congress
Wikipage page ID	1956039 (xsd:integer)
Wikipage revision ID	1109425703 (xsd:integer)
Link from a Wikipage to another Wikipage	Carol Moseley Braun President of the United States Sam Nunn Motion (legal) Bill Clinton John Murtha List of United States Supreme Court cases, volume 544 Pete Domenici Richard Shelby Robert Byrd United States United States District Court United States House of Representatives United States Senate United States Supreme Court United States securities law VEREIT Contract With America Ruth Bader Ginsburg Chris Dodd Christopher Cox Claiborne Pell Class action Fritz Hollings NASDAQ United States federal securities legislation Federal Rules of Civil Procedure Tom Harkin William Cohen Acts of the 104th United States Congress Expected value Discovery (law) Forward-looking statement Jack Fields Ted Kennedy Arlen Specter John Breaux John McCain Lawsuits Congress of the United States Institutional investor New York Stock Exchange Newt Gingrich Securities Act of 1933 Securities Exchange Act of 1934 Materiality (law) Security (finance) Veto Conflicts of interest Scienter Securities Litigation Uniform Standards Act Thomas J. Bliley, Jr. Gene Taylor (Mississippi) Attorneys' fees Rule 10b-5 Complaint (law) dbr:US_Circuit_Courts_of_Appeal
Link from a Wikipage to an external page	https://www.law.cornell.edu/rules/frcp/ http://a257.g.akamaitech.net/7/257/2422/19apr20050800/www.supremecourtus.gov/opinions/04pdf/03-932.pdf http://www.gpo.gov/fdsys/pkg/PLAW-104publ67/html/PLAW-104publ67.htm https://www.law.cornell.edu/uscode/text/15/78u-4 https://www.law.cornell.edu/uscode/text/15/78j-
sameAs	Private Securities Litigation Reform Act Private Securities Litigation Reform Act Private Securities Litigation Reform Act
dbp:wikiPageUsesTemplate	dbt:Original_research dbt:Reflist dbt:Uspl dbt:Ussc
has abstract	The Private Securities Litigation Reform Act of 1995, Pub.L. 104–67 (text) (PDF), 109 Stat. 737 (codified as amended in scattered sections of 15 U.S.C.) ("PSLRA") implemented several substantive changes in the United States that have affected certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation, and awards fees and expenses. The PSLRA was designed to limit frivolous securities lawsuits. Prior to the PSLRA, plaintiffs could proceed with minimal evidence of fraud and then use pretrial discovery to seek further proof. That set a very low barrier to initiate litigation, which encouraged the filing of weak or entirely-frivolous suits. Defending against the suits could prove extremely costly, even when the charges were unfounded, and so defendants often found it cheaper to settle than to fight and win. Under the PSLRA, however, plaintiffs must meet a heightened pleading standard before they can initiate a suit. In other words, PSLRA was specifically intended to make it more difficult to initiate securities litigation (frivolous or otherwise) because plaintiffs would supposedly be forced to present evidence of fraud before any pretrial discovery has taken place. Also, PSLRA was enacted to "give teeth to Section 11." In fact, Congress specifically pointed to the reluctance of judges to impose Section 11 sanctions as an additional reason for the passage of the legislation. The PSLRA does impose some new rules on securities class action lawsuits. It allows judges to decide the most adequate plaintiff in class actions by favoring institutional investors with large dollar amounts at stake. It mandates full disclosure to investors of proposed settlements, including the amount of attorneys' fees. It bars bonus payments to favored plaintiffs and permits judges to scrutinize lawyer conflicts of interest. (en)
prov:wasDerivedFrom	wikipedia-en:Private_Securities_Litigation_Reform_Act?oldid=1109425703&ns=0
page length (characters) of wiki page	20646 (xsd:nonNegativeInteger)
foaf:isPrimaryTopicOf	wikipedia-en:Private_Securities_Litigation_Reform_Act
is Link from a Wikipage to another Wikipage of	Carol Moseley Braun List of United States federal legislation, 1901–2001 List of United States presidential vetoes List of Washington Journal programs aired in March 1995 List of acts of the 104th United States Congress Billy Tauzin History of the Democratic Party (United States) Jonathan Cuneo List of United States Supreme Court cases by the Roberts Court Cuneo Gilbert & LaDuca, LLP David H. Webber Insider trading 104th United States Congress Christopher Cox Class action Contract with America Thomas J. Bliley Jr. Lorenzo v. SEC Byron Dorgan Murray, Frank & Sailer Daniel Patrick Moynihan

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