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Full-Text Articles in Law
Markets As Monitors: A Proposal To Replace Class Actions With Exchanges As Securities Fraud Enforcers, Adam C. Pritchard
Markets As Monitors: A Proposal To Replace Class Actions With Exchanges As Securities Fraud Enforcers, Adam C. Pritchard
Articles
Fraud in the securities markets has been a focus of legislative reform in recent years. Corporations-especially those in the high-technology industry-have complained that they are being unfairly targeted by plaintiffs' lawyers in class action securities fraud lawsuits. The corporations' complaints led to the Private Securities Litigation Reform Act of 1995 ("Reform Act"). The Reform Act attempted to reduce meritless litigation against corporate issuers by erecting a series of procedural barriers to the filing of securities class actions. Plaintiffs' attorneys warned that the Reform Act and the resulting decrease in securities class actions would leave corporate fraud unchecked and deprive defrauded …
Seeking A Common Language For The Application Of Rule 11 Sanctions: What Is "Frivolous"?, Samuel J. Levine
Seeking A Common Language For The Application Of Rule 11 Sanctions: What Is "Frivolous"?, Samuel J. Levine
Scholarly Works
In this article, Levine analyzes some of the complex issues involved in attempting to apply the ambiguous concept of frivolousness in the context of Rule 11 sanctions. He documents the inconsistency in judicial interpretation and application of Rule 11 frivolousness. Relying in part on the observations and concerns expressed by scholars, practitioners, and judges themselves who have lamented the lack of uniformity and the troubling results that have followed, Levine examines closely some of the problems inherent in the current standards. After demonstrating the wide range of approaches put forth by both judges and scholars to the interpretation of Rule …