Posted On: 11/27/2015 7:42:04 PM
Post# of 72446
PSLRA
"Attorneys’ Fees
Other provisions of the Act are designed to give victims of abusive securities lawsuits the opportunity to recover their attorneys’ fees at the conclusion of an action. This fee shafting is accomplished through the vehicle of Rule 11 of the Federal Rules of Civil Procedure, which governs all pleadings, written motions, and other papers filed with the court. The Act creates a rebuttable presumption that the appropriate sanction for the substantial failure of a complaint to comply with Rule 11 is an award to the opposing party of the reasonable attorney’s fees and other expenses incurred in the action. The Act gives courts discretion to require security for payment of costs in class actions. "
"Attorneys’ Fees
Other provisions of the Act are designed to give victims of abusive securities lawsuits the opportunity to recover their attorneys’ fees at the conclusion of an action. This fee shafting is accomplished through the vehicle of Rule 11 of the Federal Rules of Civil Procedure, which governs all pleadings, written motions, and other papers filed with the court. The Act creates a rebuttable presumption that the appropriate sanction for the substantial failure of a complaint to comply with Rule 11 is an award to the opposing party of the reasonable attorney’s fees and other expenses incurred in the action. The Act gives courts discretion to require security for payment of costs in class actions. "
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