Checklist for a Dangerous World

The incidence of shareholder litigation has exploded in recent years so that a high growth company or one operating in a volatile industry can expect to be hit with securities fraud class action at some point in its life. Recent changes in the law offer some relief: the Private Securities Litigation Reform Act of 1995 aims to protect companies when they provide 'forward-looking' information. It puts a premium on including appropriate risk disclosures when providing guidance to the Street. But