Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:American Funds Fee Suit Ain't Over 'Til the Ninth Circuit Sings Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, March 05, 2010

American Funds Fee Suit Ain't Over 'Til the Ninth Circuit Sings

News summary by MFWire's editors

Fundsters across the business probably breathed a collective sigh of relief in December when Capital Group successfully beat back over a lawsuit over allegedly excessive mutual fund fees. But it's not over yet. Last month Milberg, the class action law firm the plaintiffs in In Re American Mutual Funds Fee Litigation, appealed its defeat to the United States Court of Appeals for the Ninth Circuit.

Milberg's Janine Pollack told Morningstar's Ryan Leggio that she expects the Ninth Circuit's decision to hinge on the results of an even higher profile appeal in a similar suit, Jones v. Harris Associates (i.e. the advisor to the Oakmark Funds). For that case, all fundsters' eyes are on the U.S. Supreme Court.

The highest court in the land is expected to issue a ruling in the Harris suit within the next few months. In fact, the Supreme Court's ruling should arrive before Milberg and Capital Group have to file their opening and answering appellate briefs (by July 21 and August 20, respectively). So the judges of the Ninth Circuit, and the attorneys on both sides of the Capital Group suit, will probably end up factoring the Supreme Court's decision into their arguments. 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use