Mother of mercy! They've killed off worst of RICO; the courts reined in civil RICO excesses, which may provide a lesson for today's legal reformers in Congress
Article Abstract:
A tort reform provision in Congress that would bar most civil suits under the Racketeer Influenced and Corrupt Organization Act (RICO) for securities fraud has drawn little public attention, indicating the decline in civil use of RICO. During the 1980s the 1970 law was extensively used, but in 1985 the courts began restricting it to the sorts of organizations originally intended. Now, the head of the ABA's RICO coordinating committee says his group can be disbanded. Many securities attorneys oppose the legislative change, saying it would protect criminals.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1995
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Senate debate set for products liability reform; the bill includes a punitive damages cap and limits liability for retailers
Article Abstract:
The US Senate is to take up products liability legislation in the week beginning July 6, 1998 and what they have in mind would include capping punitive damages for small business defendants, exempting most retailers from liability caused by defective products they sell, and barring negligence suits for injuries caused by durable workplace goods more than 18 years old. Pres Bill Clinton states that he means to sign such a limited, but substantive tort reform bill.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1998
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