The PSLRA tightened pleading standards but still allowed for lawsuits over fiduciary duties to remain in procedurally more liberal state courts.
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2.
Thanks to the discovery stay, it is easy for PSLRA attorneys to act like hedge-fund managers or like card-counters in blackjack.
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3.
Thus, it is very rare for PSLRA attorneys to devote tens of thousands of hours to a case and be unable to settle for an amount that pays their lodestar in full.
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