Setback In Fund Fee Case Not Fatal For Plaintiffs

Law360, New York (September 18, 2006, 12:00 AM EDT) -- Despite a setback last month for plaintiffs alleging excessive fees at mutual-fund advisers, a slew of pending cases continue to move forward and new ones loom on the horizon, according to lawyers who successfully swept away one such action.

As the lawsuits move forward, plaintiffs will likely be hampered by the case of American Century Investment Management Inc., according to James N. Benedict, an attorney with Milbank Tweed Hadley & McCloy LLP, which represented the company. The case was voluntarily dismissed in early August.

Benedict said...
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