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
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