Gartenberg Ruling Knocks Out Ameriprise Fee Case

Law360, New York (April 5, 2010, 5:19 PM EDT) -- The U.S. Supreme Court has kicked a lawsuit against Ameriprise Financial Inc. over alleged overcharging for mutual fund fees back to the U.S. Court of Appeals for the Eighth Circuit, finding that a decades-old fee dispute standard that was recently upheld in a similar matter also applies to the Ameriprise case.

The high court issued a summary order on Monday in the proposed class action brought by investors vacating the ruling by the Eighth Circuit in which the appeals court revived the case after it was...
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