Eaton Vance Unit Wants Broker Payment Suit Tossed

Law360, New York (June 8, 2010, 4:43 PM EDT) -- A subsidiary of investment management company Eaton Vance Corp. has moved to dismiss a derivative suit alleging it compensates its broker-dealers with payments based on the value of assets held in customer accounts, in violation of federal securities laws.

Eaton Vance Distributors Inc. filed a motion to dismiss the lawsuit Monday in the U.S. District Court for the District of Massachusetts.

“There is no basis for these claims,” Eaton Vance said.

Jeffery Wiener, a shareholder in a mutual fund offered by the company, brought the suit...
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