We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

ING Group Hit With Securities Suit

Law360 (December 4, 2006, 12:00 AM EST) -- Certain investors have sued financial services giant ING Group for allegedly charging excessive advisory and sub-advisory fees on three principal protection funds.

According to the lawsuit, filed Wednesday in the U.S. District Court in Boston, ING breached its fiduciary duties to its shareholders and violated the Investment Company Act by participating in the purported scheme.

The three funds in the suit, referred to as Fund III, Fund VI and Fund VII, were under the direction of investment advisors ING Investments LLC and ING Investment Management Co.,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.