3.0.0 3931 2023-01-11T20:23:24Z 2023-01-11T20:23:24Z House H HR 2007-10-23 110 hsba00 Financial Services Committee House Standing hsba16 Capital Markets Subcommittee Referred to 2008-03-25T17:01:16Z Referred to 2007-10-23T13:03:35Z hsju00 Judiciary Committee House Standing hsju03 Courts, Intellectual Property, and the Internet Subcommittee Referred to 2008-02-25T17:41:59Z Referred to 2007-10-23T13:03:40Z Securities Litigation Attorney Accountability and Transparency Act 110 3033 S 2008-05-19 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Securities Litigation Attorney Accountability and Transparency Act 110 5463 HR 2008-03-25 Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. Identical bill CRS 2008-03-25 hsba16 Capital Markets Subcommittee 1 House committee actions Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. Committee 2008-02-25 hsju03 Courts, Intellectual Property, and the Internet Subcommittee 1 House committee actions Referred to the Subcommittee on Courts, the Internet, and Intellectual Property. Committee 2007-10-23 Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsju00 Judiciary Committee 2007-10-23 Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100-A 9 Library of Congress 2007-10-23 Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2007-10-23 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-10-23 Introduced in House IntroReferral 1000 9 Library of Congress B000072 Rep. Baker, Richard H. [R-LA-6] RICHARD BAKER R LA H. 6 N H001036 Rep. Hensarling, Jeb [R-TX-5] Jeb Hensarling R TX 5 2007-10-23 True R000487 Rep. Royce, Edward R. [R-CA-40] ED ROYCE R CA 40 2007-10-23 True Finance and Financial Sector Campaign funds Civil actions and liability Class actions (Civil procedure) Commerce Competitive bidding Conflict of interests Congress Congressional investigations Congressional reporting requirements Evidence (Law) Frivolous lawsuits Government Operations and Politics Law Lawyers Legal advertising and soliciting Legal ethics Legal fees Political action committees Securities fraud Securities industry Finance and Financial Sector 00 2007-10-23 Introduced in House 2008-09-03T13:42:51Z Securities Litigation Attorney Accountability and Transparency Act - Amends the Securities Exchange Act of 1934 and the Securities Act of 1933 to state that, in any private action in which the court enters a final judgment against plaintiff on the basis of a motion to dismiss, motion for summary judgment, or a trial on the merits, the court shall, upon defendant's motion, determine whether: (1) the position of the plaintiff was not substantially justified; (2) imposition of fees and expenses on the plaintiff's attorney would be just; and (3) the cost of such fees and expenses to the defendant is substantially burdensome or unjust.

Requires the court to award the defendant reasonable fees and other expenses, and impose such fees and expenses on the plaintiff's attorney, if the court makes positive determinations in such a case.

Places the burden of persuasion upon the defendant as to whether or not the position of the plaintiff was substantially justified.

Requires plaintiff and plaintiff's attorney to provide sworn, signed certifications that identify any actual or promised payment by the attorney to the plaintiff, beyond the plaintiff's pro rata share of any recovery.

Requires similar plaintiff and plaintiff's attorney certifications regarding: (1) legal representations; (2) contributions; and (3) conflicts of interest.

Requires the court, in exercising discretion over the approval of lead counsel, to employ a competitive bidding process as one of the criteria (unless the court determines that such a process is not feasible).

Instructs the Comptroller General to study and report to certain congressional committees on average hourly fees in securities class actions.

]]> Securities Litigation Attorney Accountability and Transparency Act Official Title as Introduced To protect investors by fostering transparency and accountability of attorneys in private securities litigation. Introduced in House IH Display Title Securities Litigation Attorney Accountability and Transparency Act Short Titles as Introduced Securities Litigation Attorney Accountability and Transparency Act Introduced in House 2007-10-23T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr3931ih/xml/BILLS-110hr3931ih.xml 2008-03-25 Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.