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Senate Judiciary Committee Considers Two Bills That May Benefit Plaintiffs in Private Civil Litigation

October 15, 2009

By William F. Sullivan and James W. Gilliam, Jr.

While most of the country focuses its attention on the national healthcare debate, Senator Arlen Specter (D-PA) recently proposed two new pieces of legislation that seek to roll back defense-friendly protections provided in several different United States Supreme Court opinions. These proposals are worthy of note because, if passed, the combined effect of this legislation may result in plaintiffs being able (1) to bring innocent parties into securities cases and (2) to maintain expensive lawsuits against these parties with only a paucity of factual detail.