Some key provisions of the securities litigation legislation:

December 22, 1995
Web posted at: 3:00 p.m. EST

Limits attorney's fees to a reasonable percentage of the final settlement.
Bars "professional plaintiffs" from being named in more than five class action lawsuits within a three-year period.
Permits the court to award attorney fees and costs to the prevailing party if a party brings a meritless or frivolous action.
Requires plaintiffs to cite concrete facts for each instance of alleged fraudulent behavior.
Prevents a plaintiff who alleges fraud from recovering damages unrelated to the fraud.
Establishes a "safe harbor" to protect companies from liability for publishing certain statements that make market predictions.
Requires the court to obtain from the jury, when money damages are sought, a finding on the defendant's state of mind at the time of the alleged violation.

By the Associated Press