Sentence examples for pays provision from inspiring English sources
But Mr Perry should be getting his pen ready.Texas's "loser pays" provision is the latest in a series of such reforms.
Such policies also have been adopted at the regional or state level; in 1996 the U.S. state of Florida, in order to protect its environmentally sensitive Everglades region, incorporated a limited "polluter pays" provision into its constitution.
It knows that around half of securities class actions are dismissed before trial, and thus it would face liability in at least that percentage of the cases and maybe more if the "loser pays" provision required (as most do) that the plaintiff be "substantially" or "completely" successful on all its theories to avoid fee-shifting.
Already, the House has passed a "loser pays" provision that opponents say would force plaintiffs to accept low-ball settlement offers rather than risk having to pay the defendants' legal bills.
In is the SEC's responsibility to ensure that that Delaware court's decision is not used to subvert the SEC's stated Maysion and goals.
First, the PSLRA provision is two-sided, while "loser pays" provisions are inevitably one-sided, applying only to the plaintiff.
To the extent that Delaware prohibited fee-shifting, it exposed itself to competition from other jurisdictions (for example, Nevada and Texas) that might be willing to uphold "loser pays" provisions.
Again, the broader sweep and harsher impact of such "loser pays" provisions arguably frustrates the more moderate balance that Congress intended to strike.
Put differently, Congress opted to use a scalpel (possibly to preserve the viability of meritorious securities class actions), while defendants that adopt "loser pays" provisions are choosing the blunderbuss.
It is argued that the $2,000 'forfeit and pay' provision is 'criminal' rather than 'civil' even if the double damage feature is not.
The "no pay" provision applied to actions brought in courts outside those selected by the company in its forum selection bylaw.
