Alarmed by predictions that Y2K would unleash a trillion dollars in (mostly frivolous) litigation, industry groups heavily lobbied Congress for legislation that would encourage remediation, discourage litigation, and protect responsible companies from the depredations of plaintiffs lawyers.
Although Congress passed the industry-backed Y2K Act, many potential defendants may find that the law won’t live up to their expectations. The legislation may discourage a few class actions, but is likely to make the litigation that does occur more uncertain, complicated, and expensive.
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