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Wednesday, September 12, 2018 7:03:52 PM
The Private Securities Litigation Reform Act of 1995. The PSLRA was designed to limit frivolous securities lawsuits. Before the Securities Litigation Reform Act, plaintiffs could proceed with minimal evidence of fraud and then use pretrial discovery to seek further proof, but with the Securities Litigation Reform Act they cant do that. Otherwise, SEC will be all over company like this with big talks and no results.
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