{
  "node_id": "us-pslra-1995-private-securities-litigation-reform-pl-104-67",
  "title": "US Private Securities Litigation Reform Act of 1995 (Public Law 104-67) - Pleading Standards and Safe Harbor for Forward-Looking Statements",
  "domain": "Banking & Global Finance",
  "version": "1.0.0",
  "last_updated": "2026-05-28T00:00:00Z",
  "bluf": "The Private Securities Litigation Reform Act of 1995 amended the Securities Act of 1933 and the Securities Exchange Act of 1934 to impose heightened pleading requirements in private securities fraud actions including a particularised facts pleading standard for scienter, mandate appointment of the most adequate plaintiff as lead plaintiff, stay discovery pending decision on a motion to dismiss, create a safe harbor for forward-looking statements accompanied by meaningful cautionary language, limit recoverable damages to actual loss caused by the misstatement, impose proportionate liability for non-knowing defendants, and require auditor obligations to detect and report illegal acts.",
  "paywall": {
    "status": "LOCKED",
    "unlock_cost_usd": "0.01",
    "skyfire_id": "41779894-ece2-4163-9761-b3b1b76e19b0"
  },
  "crosswalks": {
    "_available_keys": [
      "industry_mapping",
      "framework_alignment"
    ],
    "_note": "Full crosswalk values included in vault response"
  },
  "dependencies": [
    "us-securities-act-1933",
    "us-securities-exchange-act-1934",
    "us-sarbanes-oxley-act"
  ],
  "primary_citations_count": 8
}