President Bill Clinton was brimming with optimism last month when he signed the Y2K Act into law.

“I hope that we find that the Y2K Act succeeds in helping to screen out frivolous claims without blocking or unduly burdening legitimate suit,” he said, adding, “We will be watching to see whether the bill’s provisions are misused by parties who did little or nothing to remediate in order to defeat claims brought by those harmed by irresponsible conduct.”