A weak version of the cosmic censorship hypothesis is implemented as a set of boundary conditions on exact semiclassical solutions of two-dimensional dilaton gravity. These boundary conditions reflect low-energy matter from the strong coupling region and they also serve to stabilize the vacuum of the theory against decay into negative energy states. Information about low-energy incoming matter can be recovered in the final state but at high energy black holes are formed and inevitably lead to information loss at the semiclassical level.