Ameriprise Fee Class Action Finally Flatlines

Law360, New York (December 10, 2010, 2:24 PM EST) -- A federal judge has put the final nail in a class action against Ameriprise Financial Inc. over mutual fund adviser fees.

Judge Donovan W. Frank of the U.S. District Court for the District of Minnesota on Thursday reinstated a 2007 summary judgment ruling in favor of Ameriprise after the U.S. Supreme Court ruled that a decades-old fee dispute standard recently upheld in a similar matter also applies to the Ameriprise case.

The high court issued a summary order in April in the proposed class action brought...
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