Author: Stephen J. Choi
Publisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
This study provides evidence on the impact of the Private Securities Litigation Reform Act (PSLRA) of 1995. Others have furnished evidence that the PSLRA increased the significance of merit-related factors in determining the incidence and outcomes of securities fraud class actions. This increase is consistent with two hypotheses. First, the PSLRA may have reduced solely the incidence of nuisance litigation. Second, the PSLRA may have also reduced meritorious claims where the additional costs imposed by the PSLRA made such claims unprofitable from the perspective of plaintiffs' attorneys. The study provides evidence that pre-PSLRA nonnuisance claims lacking obvious hard evidence indicia of fraud (an accounting restatement or Securities and Exchange Commission action) would have faced (1) a lower probability of suit in the post-PSLRA period and (2) a greater likelihood of receiving a dismissal or low-value settlement in the post-PSLRA period.
Do the Merits Matter Less after the Private Securities Litigation Reform Act?
Author: Stephen J. Choi
Publisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
This study provides evidence on the impact of the Private Securities Litigation Reform Act (PSLRA) of 1995. Others have furnished evidence that the PSLRA increased the significance of merit-related factors in determining the incidence and outcomes of securities fraud class actions. This increase is consistent with two hypotheses. First, the PSLRA may have reduced solely the incidence of nuisance litigation. Second, the PSLRA may have also reduced meritorious claims where the additional costs imposed by the PSLRA made such claims unprofitable from the perspective of plaintiffs' attorneys. The study provides evidence that pre-PSLRA nonnuisance claims lacking obvious hard evidence indicia of fraud (an accounting restatement or Securities and Exchange Commission action) would have faced (1) a lower probability of suit in the post-PSLRA period and (2) a greater likelihood of receiving a dismissal or low-value settlement in the post-PSLRA period.
Publisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
This study provides evidence on the impact of the Private Securities Litigation Reform Act (PSLRA) of 1995. Others have furnished evidence that the PSLRA increased the significance of merit-related factors in determining the incidence and outcomes of securities fraud class actions. This increase is consistent with two hypotheses. First, the PSLRA may have reduced solely the incidence of nuisance litigation. Second, the PSLRA may have also reduced meritorious claims where the additional costs imposed by the PSLRA made such claims unprofitable from the perspective of plaintiffs' attorneys. The study provides evidence that pre-PSLRA nonnuisance claims lacking obvious hard evidence indicia of fraud (an accounting restatement or Securities and Exchange Commission action) would have faced (1) a lower probability of suit in the post-PSLRA period and (2) a greater likelihood of receiving a dismissal or low-value settlement in the post-PSLRA period.
Do Merits Matter?
Author: Marilyn F. Johnson
Publisher:
ISBN:
Category : Class actions (Civil procedure)
Languages : en
Pages : 35
Book Description
Publisher:
ISBN:
Category : Class actions (Civil procedure)
Languages : en
Pages : 35
Book Description
Do the Merits Matter More? The Impact of the Private Securities Litigation Reform Act
Author: Marilyn F. Johnson
Publisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
This article examines the effect of the Private Securities Litigation Reform Act of 1995 (PSLRA) on stockholder lawsuits. We explore the role of restatements, earnings forecasts, and insider trading in the filing and resolution of lawsuits for a sample of high technology firms. Consistent with our predictions, there is a post-PSLRA shift away from litigation based on forward-looking earnings disclosures. Conversely, there is a significantly greater correlation between litigation and both earnings restatements and abnormal insider selling after the PSLRA. Finally, we find a post-PSLRA increase in the likelihood of settlement for cases involving earnings restatements.
Publisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
This article examines the effect of the Private Securities Litigation Reform Act of 1995 (PSLRA) on stockholder lawsuits. We explore the role of restatements, earnings forecasts, and insider trading in the filing and resolution of lawsuits for a sample of high technology firms. Consistent with our predictions, there is a post-PSLRA shift away from litigation based on forward-looking earnings disclosures. Conversely, there is a significantly greater correlation between litigation and both earnings restatements and abnormal insider selling after the PSLRA. Finally, we find a post-PSLRA increase in the likelihood of settlement for cases involving earnings restatements.
Entrepreneurial Litigation
Author: John C. Coffee
Publisher: Harvard University Press
ISBN: 0674736796
Category : History
Languages : en
Pages : 318
Book Description
In class actions, attorneys effectively hire clients rather than act as their agent. Lawyer-financed, lawyer-controlled, and lawyer-settled, this entrepreneurial litigation invites lawyers to act in their own interest. John Coffee’s goal is to save class action, not discard it, and to make private enforcement of law more democratically accountable.
Publisher: Harvard University Press
ISBN: 0674736796
Category : History
Languages : en
Pages : 318
Book Description
In class actions, attorneys effectively hire clients rather than act as their agent. Lawyer-financed, lawyer-controlled, and lawyer-settled, this entrepreneurial litigation invites lawyers to act in their own interest. John Coffee’s goal is to save class action, not discard it, and to make private enforcement of law more democratically accountable.
Securities Litigation After the Reform Act
Author: Michael A. Perino
Publisher:
ISBN:
Category : Actions and defenses
Languages : en
Pages : 638
Book Description
Publisher:
ISBN:
Category : Actions and defenses
Languages : en
Pages : 638
Book Description
The Screening Effect of the Private Securities Litigation Reform Act
Author: Stephen Jung Choi
Publisher:
ISBN:
Category : Class actions (Civil procedure)
Languages : en
Pages : 41
Book Description
Publisher:
ISBN:
Category : Class actions (Civil procedure)
Languages : en
Pages : 41
Book Description
The Conservative Case for Class Actions
Author: Brian T. Fitzpatrick
Publisher: University of Chicago Press
ISBN: 0226816737
Category : Law
Languages : en
Pages : 282
Book Description
Since the 1960s, the class action lawsuit has been a powerful tool for holding businesses accountable. Yet years of attacks by corporate America and unfavorable rulings by the Supreme Court have left its future uncertain. In this book, Brian T. Fitzpatrick makes the case for the importance of class action litigation from a surprising political perspective: an unabashedly conservative point of view. Conservatives have opposed class actions in recent years, but Fitzpatrick argues that they should see such litigation not as a danger to the economy, but as a form of private enforcement of the law. He starts from the premise that all of us, conservatives and libertarians included, believe that markets need at least some rules to thrive, from laws that enforce contracts to laws that prevent companies from committing fraud. He also reminds us that conservatives consider the private sector to be superior to the government in most areas. And the relatively little-discussed intersection of those two beliefs is where the benefits of class action lawsuits become clear: when corporations commit misdeeds, class action lawsuits enlist the private sector to intervene, resulting in a smaller role for the government, lower taxes, and, ultimately, more effective solutions. Offering a novel argument that will surprise partisans on all sides, The Conservative Case for Class Actions is sure to breathe new life into this long-running debate.
Publisher: University of Chicago Press
ISBN: 0226816737
Category : Law
Languages : en
Pages : 282
Book Description
Since the 1960s, the class action lawsuit has been a powerful tool for holding businesses accountable. Yet years of attacks by corporate America and unfavorable rulings by the Supreme Court have left its future uncertain. In this book, Brian T. Fitzpatrick makes the case for the importance of class action litigation from a surprising political perspective: an unabashedly conservative point of view. Conservatives have opposed class actions in recent years, but Fitzpatrick argues that they should see such litigation not as a danger to the economy, but as a form of private enforcement of the law. He starts from the premise that all of us, conservatives and libertarians included, believe that markets need at least some rules to thrive, from laws that enforce contracts to laws that prevent companies from committing fraud. He also reminds us that conservatives consider the private sector to be superior to the government in most areas. And the relatively little-discussed intersection of those two beliefs is where the benefits of class action lawsuits become clear: when corporations commit misdeeds, class action lawsuits enlist the private sector to intervene, resulting in a smaller role for the government, lower taxes, and, ultimately, more effective solutions. Offering a novel argument that will surprise partisans on all sides, The Conservative Case for Class Actions is sure to breathe new life into this long-running debate.
Model Rules of Professional Conduct
Author: American Bar Association. House of Delegates
Publisher: American Bar Association
ISBN: 9781590318737
Category : Law
Languages : en
Pages : 216
Book Description
The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Publisher: American Bar Association
ISBN: 9781590318737
Category : Law
Languages : en
Pages : 216
Book Description
The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Private Securities Litigation Reform Act
Author: Harold S. Bloomenthal
Publisher:
ISBN: 9780836610093
Category : Actions and defenses
Languages : en
Pages :
Book Description
Publisher:
ISBN: 9780836610093
Category : Actions and defenses
Languages : en
Pages :
Book Description
Private Securities Litigation Reform Act of 1995
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher:
ISBN:
Category : Actions and defenses
Languages : en
Pages : 56
Book Description
Publisher:
ISBN:
Category : Actions and defenses
Languages : en
Pages : 56
Book Description