Which of the following acts replaces joint and several liability with proportionate liability?
A) the Securities Exchange Act of 1934
B) the Private Securities Litigation Reform Act of 1995
C) the Tax Reform Act of 1976
D) the Sarbanes-Oxley Act of 2002

Question

Quizplus · Accepted Answer

The Private Securities Litigation Reform Act of 1995 replaces joint and several liability with proportionate liability in certain cases, aiming to reduce frivolous securities lawsuits and the burden on defendants by making each defendant liable only for their proportion of fault.

Which of the Following Acts Replaces Joint and Several Liability