The Private Securities Litigation Reform Act of 1994 expanded a defendant's liability regardless of an accountant's degree of fault.

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The Private Securities Litigation Reform Act of 1994 actually limited a defendant's liability in cases involving accountants, and created a "safe harbor" provision for certain forward-looking statements made by companies. It did not expand a defendant's liability regardless of an accountant's degree of fault.

The Private Securities Litigation Reform Act of 1994 Expanded a Defendant's