Sponsored by the San Francisco plaintiffs' law firm headed by Joe Tobacco. Would expand securities
litigation against all publicly traded corporations, directors and officers of corporations, and the
accounting and financial services sector by removing the requirement that the directors, officers,
accountants, or financial institutions knowingly and intentionally made the false statement. Would permit
liability even if the defendant did not engage in the buying or selling of stock. Would reverse court decisions
related to the Corporate Securities Law of 1968.
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