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A securities class action ( SCA ), or securities fraud class action, is a lawsuit filed by investors who bought or sold a company's publicly traded securities within a specific period of time (known as a “class period”) and suffered economic injury as a result of violations of the securities laws . In cases involving misleading statements ...
The Private Securities Litigation Reform Act of 1995, Pub. L. Tooltip Public Law (United States) 104–67 (text), 109 Stat. 737 (codified as amended in scattered sections of 15 U.S.C.) ("PSLRA") implemented several substantive changes in the United States that have affected certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability ...
Securities regulation in the United States is the field of U.S. law that covers transactions and other dealings with securities. The term is usually understood to include both federal and state-level regulation by governmental regulatory agencies, but sometimes may also encompass listing requirements of exchanges like the New York Stock ...
Securities fraud, also known as stock fraud and investment fraud, is a deceptive practice in the stock or commodities markets that induces investors to make purchase or sale decisions on the basis of false information. [ 1] [failed verification][ 2][ 3] The setups are generally made to result in monetary gain for the deceivers, and generally ...
Description. In a typical class action, a plaintiff sues a defendant or a number of defendants [further explanation needed] on behalf of a group, or class, of absent parties. [ 2] This differs from a traditional lawsuit, where one party sues another party, and all of the parties are present in court. Although standards differ between states and ...
Frivolous litigation is the use of legal processes with apparent disregard for the merit of one's own arguments. It includes presenting an argument with reason to know that it would certainly fail, or acting without a basic level of diligence in researching the relevant law and facts. That an argument was lost does not imply the argument was ...
Qui tam. In common law, a writ of qui tam is a writ through which private individuals who assist a prosecution can receive for themselves all or part of the damages or financial penalties recovered by the government as a result of the prosecution. Its name is an abbreviation of the Latin phrase qui tam pro domino rege quam pro se ipso in hac ...
The 1933 Act was the first major federal legislation to regulate the offer and sale of securities. [ 1] Prior to the Act, regulation of securities was chiefly governed by state laws, commonly referred to as blue sky laws. When Congress enacted the 1933 Act, it left existing state blue sky securities laws in place.