If suppliers and advisers can be dragged into class actions, it would no longer even be necessary to issue shares in the United States to incur securities liability, points out Peter Wallison of the American Enterprise Institute, a think-tank. Any firm, anywhere, doing business with American companies would have to live with the risk that the transaction could later be portrayed as fraudulent or deceptive. And painting such pictures is what trial lawyers do best.
1. What will probably happen if the final decision is in favor of investors?
[A] More companies will decide to move to other countries for business.
[B] The government bodies will lose their popular trust.
[C] More companies will be involved in legal acitons.
[D] American companies will be lost most of its competitiveness.
2. Which one of the following statements is NOT true of “scheme liability”?
[A] The Department of Justice will decide whether to implement this principle in this case in a month.
[B] The principle is raised by the plainstiff’s bar to settle the case.
[C] The principle has damaged the trust of foreign companies.
[D] The SEC was originally against using this principle in this case.
3. The Treasury is against the SEC’s proposal because_____
[A] The attitude of the Department of Justice is unclear.
[B] It is afraid that this proposal may arouse securities class actions.
[C] It holds the view that the scheme liability is unreasonable.
[D] It thinks this propasal will further discourage foreign firms from listing shares in America.
4. Mr. Cox changed his mind finally because_____
[A] He is bribed by the investors to work in favor of them.
[B] He sympathezes with the sharesholders.
[C] He disagrees with the supreme court’s principles and attitudes
[D] He dedicated himself to the defense of American investors’ right.
5. Towards the actions of plainstiff’s lawyers, the author’s attitude can be said to be_____
[A] negative.
[B] positive.
[C] indifferent.
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