Which of the Following Is Not True Regarding the Private

Multiple Choice

Which of the following is not true regarding The Private Securities Litigation Reform Act?

A) The Act includes procedural provisions designed to correct perceived abuses private securities litigation.
B) To prevent "fishing expedition" lawsuits,the Act provides that,except in extraordinary circumstances,courts must stay discovery pending a ruling on a motion to dismiss the
Complaint.
C) The Act also introduced the idea that the "most adequate plaintiff" should be the lead plaintiff and select counsel to represent the class.
D) The Act creates joint and several liability for all violations under Section 10(b) of the 1934 Act.