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Congress passed the Private Securities Litigation Reform Act over the veto of President Bill Clinton five years ago. Designed to rein in the meritless and abusive securities litigation that had become increasingly common practice the 1980s and early 1990s, the act gave defendants important new weapons for combating the abusive tactics of the plaintiffs' class action bar.
June 08, 2000 at 12:00 AM
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The original version of this story was published on Law.Com
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