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10 Years Later, Experts Call For PSLRA Reform

Law360 (February 21, 2006, 12:00 AM EST) -- Passed over a decade ago, the Private Securities Litigation Reform Act was intended to curb what was seen as rampant abuse of the securities class action system. Although many aspects of the act have been successful, some experts say that the PSLRA has fallen short of correcting all the behaviors it was designed to prevent and have proposed radical changes to the class action system.

Congress passed the PSLRA in 1995, overriding a veto by then-president Bill Clinton. The act made significant changes to securities fraud...
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