Symposium

Enter Yossarian: How to Resolve the Procedural Catch-22 That the Private Securities Litigation Reform Act Creates

Janet E. Moser and Elliott J. Weiss

Section II of this Article sets forth our understanding of what the Reform Act requires a plaintiff to set forth in a complaint to state a valid claim that a corporation has made false or misleading public statements in violation of section 10(b) and Rule 10(b)(5). Section III describes our case study of GTF. Section IV analyzes the options a court would face in a case similar to the “quasi-hypothetical” we studied and suggests the option we believe a court should choose.