Safe Harbor Protection Requires Sophisticated Defense

Law360, New York (September 6, 2013, 6:14 PM EDT) -- Public companies around the country labor under a misunderstanding: that the Private Securities Litigation Reform Act’s safe harbor protects them from liability for their guidance and projections if they simply follow the statute’s requirements. But the safe harbor is not so safe — because they think it goes too far, many judges go to great lengths to avoid the statute’s plain language. Companies and their securities litigation defense counsel can usually work around this judicial attitude and take advantage of the statute’s protections, however, with the...
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