Experts At Odds Over Call To Overhaul Securities Litigation

By Rachel Graf (February 27, 2019, 7:56 PM EST) -- The U.S. Chamber of Commerce-backed Institute for Legal Reform recently proposed ways to address what it calls a "broken securities class action system" marked by a sharp increase in case filings, but there's little if any consensus about how best to tackle the issue.

The Institute for Legal Reform says the securities class action system is "plainly broken," allowing investors to file an alarming number of what are referred to as disclosure-only and event-driven lawsuits, according to a paper titled "Containing the Contagion" released Monday evening. But not everyone shares the organization's alarm.

"I think it's overblown," said Kramer Levin Naftalis...

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