Key Votes
S 1260 - Securities Litigation - Key Vote
National Key Votes
Jerry Nadler voted Nay (Conference Report Vote) on this legislation.
Read recent statements Jerry Nadler made in this general time period.
Stages
- Nov. 3, 1998 Executive Signed
- Oct. 13, 1998 House Conference Report Adopted
- Oct. 13, 1998 Senate Conference Report Adopted
- July 22, 1998 House Bill Passed
- May 13, 1998 Senate Bill Passed
- Oct. 7, 1997 Introduced
Family
Issues
Stage Details
Legislation - Signed (Executive) - Became Public Law No. 105-353 - Nov. 3, 1998
Legislation - Conference Report Adopted (House) (319-82) - Oct. 13, 1998 (Key vote)
Title: Securities Litigation
Vote to adopt a conference report requiring securities class action lawsuits involving more than fifty parties to be filed in a federal district court.
- States that any class action suit brought in a state court involving a covered security shall be subject to removal to the applicable federal district court.
- Notes that the securities commission or similar agency of any state shall retain the power to investigate and bring enforcement actions.
- Stipulates that all covered class action suits brought by parties alleging fraud in securities transactions are governed by the relevant federal statutes, which supercede similar state and local laws.
- Retains the discretion of state courts to determine whether actions should be filed jointly or consolidated.
- Amends the Securities Exchange Act of 1934 to rescind the certification, filing, and reporting requirements for the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR).
- Amends the Securities Act of 1933 to exempt certain state securities hearings from federal registration requirements.
NOTE: THIS VOTE WAS TAKEN UNDER A SUSPENSION OF THE RULES TO CUT OFF DEBATE EARLY AND VOTE TO PASS THE BILL, THEREBY REQUIRING A TWO-THIRDS MAJORITY FOR PASSAGE.
Legislation - Conference Report Adopted (Senate) - Oct. 13, 1998
NOTE: THIS VOTE PASSED BY UNANIMOUS CONSENT, MEANING NO MEMBER OBJECTED TO THE PASSAGE OF THE VOTE. THIS DOES NOT NECESSARILY INDICATE THAT ALL MEMBERS FAVORED THE VOTE'S OUTCOME.
Legislation - Bill Passed (House) - July 22, 1998
NOTE: THIS VOTE PASSED BY UNANIMOUS CONSENT, MEANING NO MEMBER OBJECTED TO THE PASSAGE OF THE VOTE. THIS DOES NOT NECESSARILY INDICATE THAT ALL MEMBERS FAVORED THE VOTE'S OUTCOME.
Legislation - Bill Passed (Senate) (79-21) - May 13, 1998 (Key vote)
Title: Securities Litigation
Vote to pass a bill requiring securities class action lawsuits involving more than fifty parties, to be filed in a federal district court.
- States that any class action suit brought in a state court involving a covered security shall be subject to removal to the applicable federal district court.
- Notes that the securities commission or similar agency of any State shall retain the power to investigate and bring enforcement actions under the laws of that state.
- Stipulates that all covered class action suits brought by parties alleging fraud in securities transactions are governed by the relevant federal statutes, which supercede similar state and local laws.
Sponsors
- William Phillip 'Phil' Gramm (TX - ) (Out Of Office)
Co-sponsors
- Edmond Spencer Abraham (MI - ) (Out Of Office)
- Wayne A. Allard (CO - R) (Out Of Office)
- John D. Ashcroft (MO - ) (Out Of Office)
- Robert F. 'Bob' Bennett (UT - R) (Out Of Office)
- Christopher S. 'Kit' Bond (MO - R) (Out Of Office)
- Barbara Boxer (CA - D)
- Samuel D. 'Sam' Brownback (KS - R) (Out Of Office)
- Thad Cochran (MS - R)
- Paul D. Coverdell (GA - R) (Out Of Office)
- Michael 'Mike' DeWine (OH - R) (Out Of Office)
- Christopher J. 'Chris' Dodd (CT - D) (Out Of Office)
- Pete V. Domenici Jr. (NM - R) (Out Of Office)
- Michael B. 'Mike' Enzi (WY - R)
- Duncan McLauchlin 'Lauch' Faircloth (NC - R) (Out Of Office)
- Dianne Feinstein (CA - D)
- Wendell H. Ford (KY - D) (Out Of Office)
- William H. 'Bill' Frist (TN - R) (Out Of Office)
- Slade Gorton (WA - R) (Out Of Office)
- Rodney 'Rod' Grams (MN - R) (Out Of Office)
- Charles T. 'Chuck' Hagel (NE - R) (Out Of Office)
- Jesse Helms (NC - R) (Out Of Office)
- Y. Tim Hutchinson (AR - R) (Out Of Office)
- Kay Bailey Hutchison (TX - R) (Out Of Office)
- James M. 'Jim' Inhofe (OK - R)
- John Forbes Kerry (MA - D) (Out Of Office)
- Jon Kyl (AZ - R) (Out Of Office)
- Joseph I. 'Joe' Lieberman (CT - I) (Out Of Office)
- Richard G. 'Dick' Lugar (IN - R) (Out Of Office)
- Connie Mack (FL - R) (Out Of Office)
- Mitch McConnell (KY - R)
- Carol Elizabeth Moseley Braun (IL - ) (Out Of Office)
- Patty Murray (WA - D)
- Don Nickles (OK - ) (Out Of Office)
- Harry M. Reid (NV - D)
- Charles S. Robb (VA - D) (Out Of Office)
- Charles Patrick 'Pat' Roberts (KS - R)
- Richard J. 'Rick' Santorum (PA - R) (Out Of Office)
- Jefferson Beauregard 'Jeff' Sessions III (AL - R)
- Gordon Harold Smith (OR - R) (Out Of Office)
- Strom Thurmond (SC - R) (Out Of Office)
- John William Warner (VA - R) (Out Of Office)
- Ron Wyden (OR - D)
