Defense Counsel Fight Suits With Collateral Estoppel

Law360, New York (April 26, 2007, 12:00 AM EDT) -- As derivative suits filed in the wake of the stock options backdating scandal continue to mount, defense attorneys are increasingly turning to collateral estoppel to alleviate the burden of litigating in multiple jurisdictions, marking a trend that could mean trouble for the plaintiffs bar.

In the wave of litigation caused by the ongoing stock options backdating probes, derivative suits have replaced class action lawsuits as the litigation method of choice, due in large part to the Private Securities Litigation Act of 1995.

While the PSLRA lays...
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