Enter Yossarian: How to Resolve the Procedural Catch-22 That the Private Securities Litigation Reform Act Creates

Elliott J. Weiss; Janet E. Moser

Symposium

Enter Yossarian: How to Resolve the Procedural Catch-22 That the Private Securities Litigation Reform Act Creates

Authors: Elliott J. Weiss (University of Arizona College of Law) , Janet E. Moser (University of Arizona College of Law)

Abstract

Section II of this Article sets forth our understanding of what the Reform Act requires a plaintiff to set forth in a complaint to state a valid claim that a corporation has made false or misleading public statements in violation of section 10(b) and Rule 10(b)(5). Section III describes our case study of GTF. Section IV analyzes the options a court would face in a case similar to the "quasi-hypothetical" we studied and suggests the option we believe a court should choose.

Keywords: Pleading, Discovery (Law), Securities fraud, Private Securities Litigation Reform Act of 1995, Class actions (Civil procedure)

How to Cite: Weiss, E. & Moser, J. (1998) “Enter Yossarian: How to Resolve the Procedural Catch-22 That the Private Securities Litigation Reform Act Creates”, Washington University Law Review. 76(2).