When Improbable Claims Come from Unnamed Sources: Defense Strategies in Securities Cases Involving Confidential Witnesses

Matthew Solum has authored an article regarding the use of "confidential witnesses" in securities fraud class actions complaints.

"The Private Securities Litigation Reform Act (PSLRA) and interpretive caselaw creates an extremely high pleading standard for securities fraud plaintiffs. Passed by Congress in 1995 as part of an effort to curb frivolous shareholder lawsuits, the PSLRA creates hurdles that a securities plaintiff must overcome in order to survive a dismissal challenge."