Attorney-Client Fee Arrangements. Securities Fraud. Lawsuits. Initiative Statute. Official Title and Summary prepared by the Attorney General

• Prohibits restrictions on attorney-client fee arrangements, except as allowed by laws existing on January 1, 1995.
• Prohibits deceptive conduct by any person in securities transactions resulting in loss to pension, retirement funds, savings. Imposes civil liability, including punitive damages, for losses.
• Authorizes class actions, derivative suits; adds presumption fraudulent acts affected market value of security.
• Prohibits indemnification of officers found liable for fraudulent acts by business entities, but may purchase insurance to cover liability.
• Declares measure conflicts with other ballot measures that restrict attorney fees or securities fraud actions.

• Potential increase in court-related costs to state and local governments of an unknown, but probably not significant, amount.
• Potential increase in revenue to the state of an unknown, but probably not significant, amount.

Argument in Favor of Proposition 211

Rebuttal to Argument in Favor of Proposition 211

Argument Against Proposition 211

Rebuttal to Argument Against Proposition 211