Page:United States Statutes at Large Volume 109 Part 1.djvu/775

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PUBLIC LAW 104-67—DEC. 22, 1995 109 STAT. 759 is entered in a private action shall be liable solely for the portion of the judgment that corresponds to the percentage of responsibility of that covered person, as determined under paragraph (3). " (ii) RECOVERY BY AND COSTS OF COVERED PER- SON. — In any case in which a contractual relationship permits, a covered person that prevails in any private action may recover the attorney's fees and costs of that covered person in connection with the action. "(3) DETERMINATION OF RESPONSIBILITY. — "(A) IN GENERAL.— In any private action, the court shall instruct the jury to answer special interrogatories, or if there is no jury, shall make findings, with respect to each covered person and each of the other persons claimed by any of the parties to have caused or contributed to the loss incurred by the plaintiff, including persons who have entered into settlements with the plaintiff or plaintiffs, concerning— "(i) whether such person violated the securities laws; "(ii) the percentage of responsibility of such person, measured as a percentage of the total fault of all persons who caused or contributed to the loss incurred by the plaintiff; and "(iii) whether such person knowingly committed a violation of the securities laws. " (B) CONTENTS OF SPECIAL INTERROGATORIES OR FIND- INGS. —The responses to interrogatories, or findings, as appropriate, under subparagraph (A) shall specify the total amount of damages that the plaintiff is entitled to recover and the percentage of responsibility of each covered person found to have caused or contributed to the loss incurred by the plaintiff or plaintiffs. "(C) FACTORS FOR CONSIDERATION.— In determining the percentage of responsibility under this paragraph, the trier of fact shall consider— "(i) the nature of the conduct of each covered person found to have caused or contributed to the loss incurred by the plaintiff or plaintiffs; and "(ii) the nature and extent of the causal relationship between the conduct of each such person and the damages incurred by the plaintiff or plaintiffs. "(4) UNCOLLECTIBLE SHARE.— "(A) IN GENERAL. —Notwithstanding paragraph (2)(B), upon motion made not later than 6 months after a final judgment is entered in any private action, the court determines that all or part of the share of the judgment of the covered person is not collectible against that covered person, and is also not collectible against a covered person described in paragraph (2)(A), each covered person described in paragraph (2)(B) shall be liable for the uncollectible share as follows: "(i) PERCENTAGE OF NET WORTH. — Each covered person shall be jointly and severally liable for the uncollectible share if the plaintiff establishes that— "(I) the plaintiff is an individual whose recoverable damages under the final judgment are