Developments Under the Private Securities Litigation Reform Act

Gregory P. Joseph The Private Securities Litigation Reform Act of 1995 (the "Reform Act" or "Act" or "PSLRA") was passed with much fanfare, over Presidential veto, on December 22, 1995. It was designed to enact new barriers to securities fraud actions - procedural bars and substantive safe harbors - in addition to all preexisting legal requirements. Its two principal reforms are (1) heightened pleading standards and (2) requiring a ...

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