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Anthony J. Albanese, a partner at Weil, Gotshal & Manges, and Joanna R. Varon, an associate at the firm, write that, under the PSLRA, all discovery must be stayed unless particularized discovery is necessary to preserve evidence or prevent undue prejudice. The statute does not provide an exception for cases in which plaintiffs may be "may well be unfairly disadvantaged" or "delayed" by the stay, or where defendants would not be "unduly burdened" by providing discovery.
September 27, 2004 at 12:00 AM
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