Court Cans Janus Investor Derivative Suits

Law360, New York (January 21, 2010, 3:25 PM EST) -- Mutual fund investors alleging Janus Capital Management breached its fiduciary duty by letting traders market time the funds have been knocked out of court by a federal judge who says the funds already have been fully compensated under a settlement with regulators.

Judge J. Frederick Motz jolted the derivative plaintiffs Wednesday, granting summary judgment to JCM — the investment adviser to the Janus mutual funds — and its distributor affiliate on the ground that $19 million already credited to the funds under a settlement with the...
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