Reforming Securities Litigation: H.R. 1058

The text discusses H.R. 1058, the Securities Litigation Reform Act, which aims to address the increase in costly and abusive securities fraud lawsuits. The bill includes provisions to limit attorney fees, prevent professional plaintiffs from filing multiple suits, and ensure fair compensation for plaintiffs. It also introduces proportional liability for unknowing violations and a safe harbor for forward-looking company statements. The bill has been passed by the House and Senate and is awaiting approval from the president. man Dick Armey expresses support for the bill and thanks the reader for contacting his office.