On July 20, President Clinton signed into law H.R. 775, the Y2K Act– legislation designed to provide corporate defendants with some protection against the expected onslaught of lawsuits that may arise from “actual or potential Y2K failures.” Those protections take the form of several novel litigation reforms that alter in some respects the substantive law applicable to Y2K actions. The reforms include punitive damages caps, proportionate liability limitations, prelitigation notice requirements and special pleading prerequisites.
SETTLING THE QUESTION OF Y2K CLASS ACTIONS
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