S 865 · 104th Congress · Finance and Financial Sector
A bill entitled the "Securities Act Amendment of 1995".
Bill Progress
✓
Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Read twice and referred to the Committee on Banking.(1995-05-25)
Plain Language Summary
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Amends the Securities Act of 1933 to declare that the civil remedy of rescission shall not be available with respect to material misrepresentations or omissions in a prospectus or communication in connection with an offer or sale of a security if the defendant proves that any depreciation in the value of such security did not result from a misrepresentation or omission in a prospectus. Limits the plaintiff's recovery of damages to only so much of the depreciation in the security's value as the defendant fails to prove to have resulted from a cause other than the misrepresentation or omission in the prospectus.…
Summarized by Claude AI · Non-partisan · For informational purposes only