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23 Apr 2018, 1:20 am by Kevin LaCroix
The Reform Act’s provisions apply to federal court class actions brought under the 1933 Act and 1934 Act.[14] Under the Reform Act, lead plaintiffs asserting 1933 Act or 1934 Act claims on behalf of a class are no longer selected based on who wins the “race to the courthouse” – instead, courts must engage in a process to determine which purported class member is “most capable of adequately representing the interests of class members” as the lead plaintiff.[15]… [read post]