Class Action Fairness Act Will Not Receive A Floor Vote

Senate Democrats have successfully blocked a floor vote on the Class Action Fairness Act, which almost certainly would have been approved. Proponents of the bill only managed to muster 59 votes in favor of invoking cloture — a one-vote loss. The Associated Press reports that the bill is likely dead for the year. (The 10b-5 Daily has been following the progress of the Class Action Fairness Act through Congress.