The Private Securities Litigation Reform Act of 1995 imposed significant procedural rules and substantive standards that made it more difficult to pursue litigation under the securities laws based solely on written or oral statements by the company's officers and directors.

Question

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The Private Securities Litigation Reform Act of 1995 was enacted to curb frivolous, lawyer-driven litigation by imposing stricter procedural requirements and standards for securities fraud lawsuits, particularly those based on the forward-looking statements of company officials.

The Private Securities Litigation Reform Act of 1995 Imposed Significant