Thank you, Mr. Chairman, for holding this hearing on securities litigation I have always supported reasonable legal reform. I supported the Private Securities Litigation Reform Act that was passed by Congress last year and am a cosponsor of the Chairman's bill, S. 1260, the Securities Litigation Uniform Standards Act.
It is important to analyze these issues to ensure that abuses in securities litigation are curbed. It is also necessary to establish that this legislation clarifies the measures that were passed last year in order to accomplish the original intent of the reform legislation.
I thank the Chairman for conducting this hearing and look
forward to hearing the testimony of the witnesses as we
examine this issue further.
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