Political Quotes

William Bryan: “So if I understand the Senator's position, if S. 1260 is passed, we preempt State class actions so that small investors…”

On the recordMay 13, 1998
So if I understand the Senator's position, if S. 1260 is passed, we preempt State class actions so that small investors would not have the advantage of a longer statute of limitations that a number of States--I believe 33 out of the 50--provide to investors suing at the State level class actions. We would deprive the small investor of his or her opportunity to go against the accomplices, the lawyers, the accountants, and others who conspired with the primary perpetrator of fraud. That protection is taken away. And we also eliminate the ability to move and to obtain a joint and several liability judgment against those offenders. They are all things which I understand currently exist to the benefit of small investors as class actions at the State level in most States, if I am not mistaken.
Said by
William Bryan
Florida
Source
govinfo.gov

Editor's note · Context

Discussing the implications of S. 1260 on state class actions for small investors.

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