The Private Securities Litigation Reform Act adopted the doctrine of
A) Foreseeable third parties.
B) Joint and several liability.
C) Proportionate liability.
D) Foreseen third parties.

Question

Quizplus · Accepted Answer

The Private Securities Litigation Reform Act adopted the doctrine of proportionate liability, which means that liability is assigned proportionately based on a person's level of fault or responsibility for the damages incurred. This replaced the previous doctrine of joint and several liability, which allowed plaintiffs to sue any and all defendants for the full amount of damages, regardless of each defendant's level of fault. The other answer choices are not relevant to the Act.

The Private Securities Litigation Reform Act Adopted the Doctrine of