Hartford Financial Can't Escape Suit Over Management Fees

Law360, New York (December 18, 2012, 4:05 PM EST) -- A New Jersey federal judge on Monday refused to toss a suit alleging Hartford Investment Financial Services LLC charged six mutual funds excessive investment management and distribution fees, ruling that the funds' shareholders provided sufficient evidence to withstand dismissal.

HIFSCO, which is the firms' investment adviser, argued that the plaintiffs lacked specificity in their investment management claims and challenged the evidence supporting some of the plaintiffs' distribution fees claims. U.S. District Judge Renee Marie Bumb sided with Hartford on the distribution claims, but said the suit...
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