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Private Securities Litigation Reform Act
The Private Securities Litigation Reform Act of 1995, , 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 United States securities law, federal securities laws, including changes related to pleading, discovery (law), discovery, liability, class representation, and awards fees and expenses. The PSLRA was designed to limit frivolous security (finance), securities lawsuits. Prior to the PSLRA, plaintiffs could proceed with minimal evidence of fraud, and then use pretrial discovery to seek further proof. That set a very low barrier to initiate litigation, which encouraged the filing of weak or entirely-frivolous suits. Defending against the suits could prove extremely costly, even when the charges were unfounded, and so defendants often found it cheaper to settle than to fight and win. Under the PSLRA, however, plaintiffs must meet a heightene ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Securities Law
Securities regulation in the United States is the field of Law of the United States, U.S. law that covers transactions and other dealings with Security (finance), 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 Stock exchange, exchanges like the New York Stock Exchange and rules of self-regulatory organizations like the Financial Industry Regulatory Authority (FINRA). On the federal level, the primary securities regulator is the U.S. Securities and Exchange Commission, Securities and Exchange Commission (SEC). Futures contract, Futures and some aspects of Derivative (finance), derivatives are regulated by the Commodity Futures Trading Commission (CFTC). Understanding and complying with security regulation helps businesses avoid litigation with the SEC, state security commissioners, and private parties. Failing to comply can even result in crimi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Complaint (law)
In legal terminology, a complaint is any formal legal document that sets out the facts and legal reasons (see: cause of action) that the filing party or parties (the plaintiff(s)) believes are sufficient to support a claim against the party or parties against whom the claim is brought (the defendant(s)) that entitles the plaintiff(s) to a remedy (either money damages or injunctive relief). For example, the Federal Rules of Civil Procedure (FRCP) that govern civil litigation in United States courts provide that a civil action is commenced with the filing or service of a pleading called a complaint. Civil court rules in states that have incorporated the Federal Rules of Civil Procedure use the same term for the same pleading. In Civil Law, a "complaint" is the first formal action taken to officially begin a lawsuit. This written document contains the allegations against the defense, the specific laws violated, the facts that led to the dispute, and any demands made by the p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bill Clinton
William Jefferson Clinton (né Blythe III; born August 19, 1946) is an American politician and lawyer who was the 42nd president of the United States from 1993 to 2001. A member of the Democratic Party (United States), Democratic Party, he previously served as the attorney general of Arkansas from 1977 to 1979 and as the governor of Arkansas from 1979 to 1981, and again from 1983 to 1992. Clinton, whose policies reflected a centrist "Third Way" political philosophy, became known as a New Democrats (United States), New Democrat. Born and raised in Arkansas, Clinton graduated from Georgetown University in 1968, and later from Yale Law School, where he met his future wife, Hillary Clinton, Hillary Rodham. After graduating from law school, Clinton returned to Arkansas and won election as state attorney general, followed by Governorships of Bill Clinton, two non-consecutive tenures as Arkansas governor. As governor, he overhauled the state's education system and served as Chai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
President Of The United States
The president of the United States (POTUS) is the head of state and head of government of the United States. The president directs the Federal government of the United States#Executive branch, executive branch of the Federal government of the United States, federal government and is the Powers of the president of the United States#Commander-in-chief, commander-in-chief of the United States Armed Forces. The power of the presidency has grown since the first president, George Washington, took office in 1789. While presidential power has ebbed and flowed over time, the presidency has played an increasing role in American political life since the beginning of the 20th century, carrying over into the 21st century with some expansions during the presidencies of Presidency of Franklin D. Roosevelt, Franklin D. Roosevelt and Presidency of George W. Bush, George W. Bush. In modern times, the president is one of the world's most powerful political figures and the leader of the world's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Veto
A veto is a legal power to unilaterally stop an official action. In the most typical case, a president (government title), president or monarch vetoes a bill (law), bill to stop it from becoming statutory law, law. In many countries, veto powers are established in the country's constitution. Veto powers are also found at other levels of government, such as in state, provincial or local government, and in international bodies. Some vetoes can be overcome, often by a supermajority vote: Veto power in the United States, in the United States, a two-thirds vote of the United States House of Representatives, House and United States Senate, Senate can override a presidential veto.Article One of the United States Constitution#Clause 2: From bills to law, Article I, Section 7, Clause 2 of the United States Constitution Some vetoes, however, are absolute and cannot be overridden. For example, United Nations Security Council veto power, in the United Nations Security Council, the five per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Congress Of The United States
The United States Congress is the legislative branch of the federal government of the United States. It is a bicameral legislature, including a lower body, the U.S. House of Representatives, and an upper body, the U.S. Senate. They both meet in the United States Capitol in Washington, D.C. Members of Congress are chosen through direct election, though vacancies in the Senate may be filled by a governor's appointment. Congress has a total of 535 voting members, a figure which includes 100 senators and 435 representatives; the House of Representatives has 6 additional non-voting members. The vice president of the United States, as President of the Senate, has a vote in the Senate only when there is a tie. Congress convenes for a two-year term, commencing every other January. Elections are held every even-numbered year on Election Day. The members of the House of Representatives are elected for the two-year term of a Congress. The Reapportionment Act of 1929 establ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities Litigation Uniform Standards Act
The Securities Litigation Uniform Standards Act of 1998 (SLUSA), {{uspl, 105, 353, 112 Stat. 3227, is a federal legislative act in the United States regarding private class action lawsuits for securities fraud. SLUSA amended portions of the Securities Act of 1933 and the Securities Exchange Act of 1934 to preempt certain class actions that alleged fraud under state law "in connection with the purchase or sale" of securities. Such lawsuits cannot be filed in state or federal court. Background In 1995, Congress passed the Private Securities Litigation Reform Act (PSLRA), claiming that the class action device was being used to injure "the entire U.S. economy" through nuisance filings, targeting of deep-pocket defendants, vexatious discovery requests, and "manipulation by class action lawyers of the clients whom they purportedly represent." The PSLRA accordingly imposed new restrictions that included a heightened pleading standard for securities class actions, damage caps, and manda ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ruth Bader Ginsburg
Joan Ruth Bader Ginsburg ( ; Bader; March 15, 1933 – September 18, 2020) was an American lawyer and jurist who served as an associate justice of the Supreme Court of the United States from 1993 until Death and state funeral of Ruth Bader Ginsburg, her death in 2020. She was nominated by President Bill Clinton to replace retiring justice Byron White, and at the time was viewed as a moderate consensus-builder. Ginsburg was the first Jewish woman and the second woman to serve on the Court, after Sandra Day O'Connor. During her tenure, Ginsburg authored the majority opinions in cases such as ''United States v. Virginia''(1996), ''Olmstead v. L.C.''(1999), ''Friends of the Earth, Inc. v. Laidlaw Environmental Services, Inc.''(2000), and ''City of Sherrill v. Oneida Indian Nation of New York''(2005). Later in her tenure, Ginsburg received attention for passionate dissents that reflected Ideological leanings of United States Supreme Court justices, liberal views of the law. Gin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Supreme Court
The Supreme Court of the United States (SCOTUS) is the highest court in the federal judiciary of the United States. It has ultimate appellate jurisdiction over all U.S. federal court cases, and over state court cases that turn on questions of U.S. constitutional or federal law. It also has original jurisdiction over a narrow range of cases, specifically "all Cases affecting Ambassadors, other public Ministers and Consuls, and those in which a State shall be Party." In 1803, the Court asserted itself the power of judicial review, the ability to invalidate a statute for violating a provision of the Constitution via the landmark case '' Marbury v. Madison''. It is also able to strike down presidential directives for violating either the Constitution or statutory law. Under Article Three of the United States Constitution, the composition and procedures of the Supreme Court were originally established by the 1st Congress through the Judiciary Act of 1789. As it has si ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Rules Of Civil Procedure
The Federal Rules of Civil Procedure (officially abbreviated Fed. R. Civ. P.; colloquially FRCP) govern civil procedure in United States district courts. They are the companion to the Federal Rules of Criminal Procedure. Rules promulgated by the United States Supreme Court pursuant to the Rules Enabling Act become part of the FRCP unless, within seven months, the United States Congress acts to veto them. The Court's modifications to the rules are usually based upon recommendations from the Judicial Conference of the United States, the federal judiciary's internal policy-making body. At the time (1934) was adopted, federal courts were generally required to follow the procedural rules of the states in which they sat, but they were free to apply federal common law in cases not governed by a state constitution or state statute. Whether within the intent of Congress or not when adopting 28 U.S.C. 724 (1934), the situation was effectively reversed in 1938, the year the Federal Rul ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
