Abstract
The Private Securities Litigation Reform Act of 1995 intended to transform securities class actions by putting investors in charge and protecting defendants from abusive lawsuits. This Article surveys developments under the Reform Act. The Act's heightened pleading standard and discovery stay pose real obstacles to securities class actions, but the lead plaintiff provision has not yet displaced plaintiffs' lawyers from their dominant role. Finally, the Article discusses the migration of securities class actions to state court.
How to Cite
39 Ariz. L. Rev. 641 (1997)
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