Investors Tell High Court Janus Is Liable For Funds

Law360, New York (December 7, 2010, 7:06 PM EST) -- An attorney for a putative class of investors argued Tuesday before the U.S. Supreme Court that Janus Capital Management LLC was essentially the same entity as the mutual funds it controlled and that it should therefore be liable for market timing misstatements contained in the funds' prospectuses.

Janus Capital Management was responsible for writing and preparing the prospectuses, and it was the entity that had the motive and incentive to lie, according to David C. Frederick, an attorney at Kellogg Huber Hansen Todd Evans & Figel PLLC...
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.