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BlackRock's Mutual Fund Accounting Inflated Fees, Suit Says

The word BlackRock displayed on a colorful background on a monitor, with line graphs in the background behind the monitor

By Lauren Berg

Asset manager BlackRock Inc.'s accounting practices artificially inflated the values of more than 70 of its mutual funds, saddling investors with higher management fees and cutting into the dividends they might have collected, according to a proposed class action lodged Monday in New York state court.


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Top Stories
  • Signs notifying drivers of congestion pricing tolls stand near a yellow taxi and other vehicles on a street in New York City.
    2nd Circ. Rejects Bid To End NYC's Congestion Pricing

    By Linda Chiem

    The Second Circuit on Monday upheld New York City's congestion pricing, rejecting two suburban counties' claims ...(read more)

  • White water tower with blue logo depicting stars over a mountain, with green hills and the Hollywood sign in the background
    12 Democratic AGs Challenge Paramount-Warner Bros. Deal

    By Bryan Koenig

    A dozen Democratic attorneys general on Monday sought to block Paramount Skydance's proposed $110 billion acquis...(read more)

  • Ex-SVB Treasurer Says No Risky Actions Taken Before Failure

    By Bonnie Eslinger

    Silicon Valley Bank's former treasurer defended the bank's former leadership Monday during a California federal bench trial over the FDIC's claim they mismanaged its assets before its 2023 collapse, saying he never observed anyone take actions he believed risked the soundness of the financial institution.

  • Albertsons, Safeway Face Trial Over Wash.'s Opioid Epidemic

    By Ben Adlin

    Albertsons and Safeway ignored signs of problematic opioid prescriptions in Washington for years, an attorney for the state told a Seattle judge Monday during opening statements in a bench trial over allegations that the pharmacy chains failed to prevent the diversion of opioids that fueled the state's long-running overdose crisis.

  • 9th Circ. Backs Block On FinCEN Border Cash Reporting Reqs

    By Rae Ann Varona

    The Ninth Circuit Monday affirmed a temporary block on a Trump administration rule that singles out cash-moving businesses along the southwest border for heightened anti-money laundering reporting, agreeing that a plaintiff money service business will likely suffer irreparable harm.

  • 2nd Circ. Backs NYC Law Blocking Broker Fees For Tenants

    By Hailey Konnath

    The Second Circuit held Monday that a lower court was correct to refuse to preliminarily block a New York City law prohibiting certain landlord broker fees, ruling that the city has pointed to legitimate government interests that warrant the law.

  • 2nd Circ. Says Tylenol Maker Must Face Autism, ADHD Suits

    By Emily Field

    The Second Circuit said Monday that a lower court had wrongly excluded plaintiffs experts from testifying about an alleged relationship between using Tylenol during pregnancy and autism spectrum disorder and attention-deficit/hyperactivity disorder, although the panel cautioned that the decision was not political or scientific.

  • Netflix Wins $3M Atty Fees Over 'Objectively Baseless' IP Suit

    By Craig Clough

    A California federal judge granted Netflix Inc. $3 million in attorney fees on Monday, ruling that the plaintiff in a patent suit and his attorney knew that his claims of ownership were "objectively baseless" and worked to conceal a Finnish court's determination that he did not own the patent.

  • EPA Floats New Permits For Proposed Coal Ash Regs

    By Tom Lotshaw

    The U.S. Environmental Protection Agency on Monday floated the idea of a new permit to help more companies benefit from coal ash disposal regulations it has pitched, and also proposed approving a coal ash permitting program that Alabama has submitted.

  • Judge Newman Won't Reopen High Court Suspension Battle

    By Theresa Schliep

    Federal Circuit Judge Pauline Newman did not ask the U.S. Supreme Court to reconsider her bid to save a suit against her fellow judges for suspending her from the bench over her refusal to undergo medical tests.

  • Senate Confirms SDTX Judge Pick Tied To Gun Group

    By Courtney Bublé

    The Senate voted 46-44 Monday evening to confirm Executive Assistant U.S. Attorney Arthur "Rob" Jones as a U.S. district judge to serve on the Southern District of Texas bench.

  • First Hawaiian To Purchase TriCo In $2B All-Stock Bank Deal

    By Al Barbarino

    First Hawaiian Inc. said Monday it will acquire California-based TriCo Bancshares in an all-stock deal valued at just over $2 billion, expanding its mainland U.S. presence and creating a combined banking institution with roughly $34 billion in assets.

  • Conn. Radiologist Loses Quick Win Bid In $5M Cancer Lawsuit

    By Aaron Keller

    A Connecticut state judge Monday denied a radiology doctor and medical group's attempt for quick wins on $5 million malpractice claims surrounding a former Waterbury Hospital nurse's missed cancer diagnosis, after attorneys for a local unit of bankrupt operator Prospect Medical Holdings Inc. bowed out of the case.

  • Jackson Walker Settlements Over Judge Romance Get Greenlit

    By Emma Cueto

    A Texas bankruptcy judge has recommended approval of nine settlements regarding legal fees paid to Jackson Walker LLP connected to a former firm partner's romantic relationship with a then-bankruptcy judge, with the firm agreeing to pay $4.79 million in total, including $1.4 million to the estate of J.C. Penney.

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Latest News

  • Ex-SVB Treasurer Says No Risky Actions Taken Before Failure
  • Albertsons, Safeway Face Trial Over Wash.'s Opioid Epidemic
  • 9th Circ. Backs Block On FinCEN Border Cash Reporting Reqs
  • 2nd Circ. Backs NYC Law Blocking Broker Fees For Tenants
  • Portofino Says Citadel Used Dismissal To Fuel Press Campaign
  • Defense Gears Up To Fight Polymarket Insider Trading Case
  • NJ Delays Registry Aspect Of Newly Enacted Data Broker Law
  • London Arbitration Advised In Florida MSC Cruises Case
  • 7th Circ. Nixes Clearview AI Privacy Deal Over Class Rift
  • 2nd Circ. Says Tylenol Maker Must Face Autism, ADHD Suits

From The Courtroom

  • Michigan Jury Rejects Truck Buyers' Claims Against Navistar
  • $725M Liquid Nails Deal Would Harm Market, FTC Tells Judge
  • McCarter & English Doesn't Owe Insurers $21.3M, Judge Told
  • Navistar And Truck Co. Debate Contract In $16M Trial Closings
  • McCarter Atty Didn't Bungle $20M NY Deals, Conn. Court Told
  • Navistar Expert Says GLS Missteps, Not Delays, Drove Losses
  • Butterball, 2 More Head For Ill. Turkey Price-Fix Trials
  • McCarter Trial Judge Has 'Serious Doubts' About NY Expert
  • McCarter Atty's Work 'Fell Short' In $20M Deals, Judge Told
  • Medtronic Denied Bid To Nix $382M Antitrust Loss
 
 
 

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    PacifiCorp Ruling Shows Limits Of Aggregate Wildfire Loss Models
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  • Gregg Goldfarb
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    While the U.S. Supreme Court’s recent ruling in Monsanto v. Durnell forecloses the failure-to-warn theory that carried most of the c... (read more)
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    Justices Stand On Statutory Specifics In Cisco And Landor
    With its June 23 decisions in Cisco Systems Inc. v. Doe and Landor v. Louisiana Department of Corrections and Public Safety, the U.S... (read more)
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    Immigration Ruling Maps Alternative To Universal Injunctions
    A Rhode Island federal court's decision in Dorcas International Institute of Rhode Island v. USCIS vacating policies that froze key ... (read more)
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