S.3033 - Securities Litigation Attorney Accountability and Transparency Act

A bill to protect investors by fostering transparency and accountability of attorneys in private securities litigation. view all titles (2)

All Bill Titles

  • Short: Securities Litigation Attorney Accountability and Transparency Act as introduced.
  • Official: A bill to protect investors by fostering transparency and accountability of attorneys in private securities litigation. as introduced.

This Bill currently has no wiki content. If you would like to create a wiki entry for this bill, please Login, and then select the wiki tab to create it.

Bill’s Views

  • Today: 2
  • Past Seven Days: 2
  • All-Time: 1,598
 
Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
05/19/08
 
 
 
 
 
 
 

Official Summary

Securities Litigation Attorney Accountability and Transparency Act - Amends the Securities Exchange Act of 1934 and the Securities Act of 1933 to require plaintiff and plaintiff's attorney to provide sworn, signed certifications that identify any actual or promised payment by the attor

Official Summary

Securities Litigation Attorney Accountability and Transparency Act - Amends the Securities Exchange Act of 1934 and the Securities Act of 1933 to require plaintiff and plaintiff's attorney to provide sworn, signed certifications that identify any actual or promised payment by the attorney to the plaintiff, beyond the plaintiff's pro rata share of any recovery.Requires similar plaintiff and plaintiff's attorney certifications regarding:
(1) legal representations;
(2) contributions; and
(3) conflicts of interest.Requires the court, in exercising discretion over the approval of lead counsel, to employ a competitive bidding process as one of the criteria (unless the court determines that such a process is not feasible). Instructs the Comptroller General to study and report to certain congressional committees on average hourly fees in securities class actions.

...Read the Rest




Vote on This Bill

-% Users Support Bill

0 in favor / 0 opposed
 

Send Your Senator a Letter

about this bill Support Oppose Tracking
Track with MyOC