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To the degree that states are adopting changes in this area, they are more likely to change their laws to mirror PSLRA. Three states -- Arizona, Montana, and Ohio -- have so far adopted laws based on PSLRA.
Price Waterhouse Securities Litigation Study (January 1998).
Federal Shareholder Class Action Filings Rise to Pre-Reform Act Levels as State Filings Fall, National Economic Research Associates, Inc. (July 1997).
"SEC Sees Rise in Filing of Federal Securities Class Actions," Paul Beckett, Dow Jones News Service (February 18, 1998).
Statement of Senator Chris Dodd, Oversight Hearing on the Impact of the Private Securities Litigation Reform Act of 1995, Securities Subcommittee of the Senate Committee on Banking, Housing, and Urban Affairs (July 24, 1997).
SEC testimony, p.13.
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