SBA Says Abusive Class-Action Lawsuits Curbs a `Big Win'

WASHINGTON – Following President Bush’s Feb. 18th signing of a bill that limits class-action lawsuits, SBA Administrator Hector Barreto called the move a step forward for small business owners. “This is a big win for the nation’s small-business community, which after all represent 99% of all businesses,” Barreto said. “Creating an environment where small businesses can flourish is an important priority for President Bush and he rightly recognized that abusive class-action lawsuits are a barrier to their growth.” Barreto said the passage and signing of the bill helps to better the environment for “this vital segment to our economy.” “Abusive lawsuits can result in significant added costs to doing business,” Barreto said. “With this worry now off the table, it will give American small businesses more time to focus on what’s really important to them: growing their businesses and creating more jobs.”