Schwab Case Opens Litigation Doors Most Thought Closed

Law360, New York (April 1, 2015, 10:25 AM EDT) -- A recent Ninth Circuit Court of Appeals opinion charts potential new pathways for claims for damages resulting from portfolio losses by mutual fund shareholders against both a fund's trustees and its investment adviser. However, much of the sweeping language and analysis in the court's opinion is not merely novel but is inconsistent with established principles of investment company governance and litigation, which could limit the precedential impact of the opinion....

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