Mutual Funds Should Use Litigation For Shareholders' Benefit
By Sean Griffith and Dorothy Lund (September 25, 2019, 4:40 PM EDT) -- We are flattered that Ropes & Gray LLP attorneys Amy Roy and Robert Skinner took the time to comment on our forthcoming article, "Toward a Mission Statement for Mutual Funds in Shareholder Litigation," in their recent Law360 article. We only wish they had read it more carefully.
Our article observes that it is passing strange that mutual funds, which have recently made so much noise about engaging with portfolio companies, do not use one of the principal levers available to do so, namely shareholder litigation. Our central empirical finding — which Roy and Skinner do not dispute — is that mutual funds...
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