Fundsters worried by the recent spate of mutual fund lawsuits (over fees and strategy changes, as well as performance) may want to take a look at Chuck Jaffe's latest MarketWatch column. Jaffe, not surprisingly, takes the opposite perspective on the suits, expressing his frustration with their low success rate and offering some advice to fund shareholders who do try to make some class action dough. Fundsters and fund distributors, beware.

"Investors frustrated by losses in their mutual funds have always hoped to get a pound of flesh back from the fund managers," Jaffe writes. "Alas, suing funds and fund managers typically has brought less than an ounce of flesh, if anything. The fund world is full of tales of woe told in court to no effect." 

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