Kickback Scandal Leads To New Push For Reform

Law360, New York (February 19, 2008, 12:00 AM EST) -- Republican lawmakers reintroduced legislation last week aimed at reforming class action securities litigation last week, the same week star securities class action attorney William S. Lerach was sentenced to two years in federal prison.

The bill, reintroduced Thursday by Rep. Jeb Hensarling (R-Texas) and co-sponsored by Rep. Ed Royce (R-Calif.), is a carbon copy of the Securities Litigation Attorney Accountability and Transparency Act, introduced in October by former Rep. Richard Baker (R-La.).

A representative for Royce said the bill had been reintroduced due to Baker's retirement....
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