Fight Continues Over 7th Circ. Mutual Fund Fee Ruling

Law360, New York (May 23, 2008, 12:00 AM EDT) -- In a decision many say has the power to potentially upend 30 years of precedent in the mutual fund industry, shareholders and mutual fund trustees are still trying to read the tea leaves of a recent appeals court ruling that said judges shouldn't cap mutual fund advisory fees.

In May, the U.S. Court of Appeals for the Seventh Circuit rebuffed a group of clients of investment firm Harris Associates LP, upholding a lower court's decision that the firm's advisory fees for the Oakmark complex of mutual...
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