Thursday, September 7, 2006
...so says a Law.com story.
As part of their efforts, tort reformers are circulating model legislation to state lawmakers that would require consumers to have suffered economic losses or injuries from a company's alleged misstatements in order to file a class action.
The model legislation, which was encouraged recently in a report by the American Tort Reform Foundation, also would require consumers to have relied on a company's alleged misrepresentations when they bought its product or services.
(See also the post from Pfizer's Arnold Friede.)