United States · Amendment · HAMDT

HAMDT 275 (104th)

An amendment to replace the current "loser pays" provisions of the bill with new language which would specifically target attorneys who initiate frivolous law suits. The amendment would require courts to award costs and legal fees to the prevailing party in a securities lawsuit if the plaintiff's complaint or motion was intended to harass, caused unneccessary delay, or increased the cost of litigation. The amendment would require the courts to hold the losing party's attorney liable for any costs and fees awarded unless the losing party was responsible for the frivolous suit.