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GURARY v. NU TECH BIO MED, INC.

Docket Nos. 01-7969(L), 01-9000(XAP).

303 F.3d 212 (2002)

Mordechai GURARY, Plaintiff-Appellant-Cross-Appellee, v. NU-TECH BIO-MED, INC., Defendant-Appellee-Cross-Appellant, Isaac Winehouse, d/b/a Wall & Broad Equities, Defendant.

United States Court of Appeals, Second Circuit.

Decided: August 23, 2002.

Attorney(s) appearing for the Case

Robert J. Tolchin, Jaroslawicz & Jaros, New York, NY, for Plaintiff-Appellant-Cross-Appellee.

Martin E. Karlinsky, Rosenman & Colin, LLP, New York, NY, for Defendant-Appellee-Cross-Appellant.

Before: WALKER, WINTER, and CALABRESI, Circuit Judges.

Chief Judge JOHN M. WALKER, Jr., concurs in a separate opinion.

CALABRESI, Circuit Judge.

Responding to what it perceived to be an unwillingness on the part of courts to impose discretionary sanctions on parties who brought abusive securities fraud lawsuits, Congress passed Section 21D(c) of the Private Securities Litigation Reform Act of 1995 (PSLRA), 15 U.S.C. § 78u-4(c). See S.Rep. No. 104-98, at 13 (1995), reprinted in 1995 U.S.C.C.A...

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