Cox: Securities Law is a “Legal Torture Chamber”

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"Cox: Securities Law is a “Legal Torture Chamber”"

Chris Cox speaking on the House floor on the state of the securities law, 3/7/95:

It is a legal torture chamber for plaintiffs and defendants alike, more suitable to the pages of Charles Dickens’ `Bleak House’ than a nation dedicated to equal justice under law. The current system of private securities litigations is an outrage and a disgrace.

Cox said this, of course, before he marshaled through the Private Securities Litigation Reform Act of 1995 which significantly weakened protections for investors.

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