A bill to provide for the reform of class action litigation procedures.

[AI summary unavailable — showing source text] Repeals Federal Rules of Civil Procedure 23(b)(3) (class actions where common questions of law or fact predominate) and creates two new types of civil actions against persons whose conduct gives rise to private actions for damages under statutes of the United States: (1) a public action vesting a single claim in the United States where (A) at least 200 persons have each sustained injury less than $300, and (B) the combined damages exceed $60,000; and (2) a class compensatory action where at least 40 persons have each sustained injury greater than $300. Requires in both actions that the injuries or liability arise out of the same transaction or occurence and that a substantial common question of law or fact exist. Authorizes the court, in a public action against the United States, to make orders limiting the involvement of the Attorney General. Allows a public action to be brought by the United States or private person in the name of the United States. Authorizes the Attorney General, in actions by a private person, to: (1) assume control of the action; (2) permit prosecution by the private person; (3) refer the action to a State attorney general in specified circumstances; or (4) r…