Franklin Asks For Time To Reply To Class Action

Law360, New York (August 8, 2007, 12:00 AM EDT) -- Mutual fund firm Franklin Resources Inc. on Friday asked the court to extend the deadline for responding to a class action complaint which accuses the company of offering kickbacks to brokers and dealers for pushing its funds onto unwitting investors.

The original due date for an answer to the complaint was Aug. 8. Franklin asked the court to extend the deadline by over a month, to Sept. 25. The company did not give a reason as to why it wanted the deadline extended.

The class action,...
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