What Is the Primary Reason That Congress Passed the Securities

question 43

Multiple Choice

What is the primary reason that Congress passed the Securities Litigation Uniform Standards Act of 1998?

• A)To overturn the Private Securities Litigation Reform Act of 1995.
• B)As a result of concerns that plaintiff attorneys could get around the Private Securities Litigation Reform Act of 1995 by filing class action lawsuits involving nationally traded securities in state courts.
• C)To provide for joint and several liability rather than proportionate liability.
• D)To ensure that all publicly-held companies receive similar audits.

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Definitions:

Testamentary Capacity

The legal and mental ability of an individual to make or alter a valid will.

Holographic Will

A will entirely handwritten, dated, and signed by the testator, sometimes acceptable without witnesses in some jurisdictions.

Testator

A person who writes a will.

Forgery

The fraudulent making or altering of a writing in a way that changes the legal rights and liabilities of another and with the intent to deceive or defraud.