Under Federal Statutes the proportionate liability doctrine

Under Federal Statutes, the \"proportionate liability\" doctrine applies only to lawsuits brought in federal courts. Clever layers took their cases to state courts that follow the \"joint and several liability\" doctrine. This loophole was closed by which of the follow Acts? a. Sabanes-Oxley Act of 2002. b. Securities Litigation Uniform Standards Act of 1998. c. Class Action Fairness Act of 2005. d. Private Securities Litigation Reform Act of 1995.

Solution

Option B is Correct

Securities Litigation Uniform standards Act of 1998 ACT closed this loophole