Endorsing Gartenberg In Jones V. Harris Associates

Law360, New York (April 16, 2010, 1:53 PM EDT) -- The U.S. Supreme Court recently rejected a controversial lower court decision that would have severely limited investors’ ability to sue mutual fund firms over the fees they charge.

In a widely watched case, the court ruled that a lower court went too far in deciding mutual fund managers cannot be held liable for charging excessive fees unless there is fraud involved. What impact will this recent decision have on mutual fund firms?

To answer this question, we first discuss the background facts and lower court’s decision,...
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