8th Circ. Knocks Out Ameriprise Fee Class In Round 2

Law360, Los Angeles (March 30, 2012, 7:00 PM EDT) -- The Eighth Circuit on Friday refused to revive a class action against Ameriprise Financial Inc. over allegedly excessive mutual fund adviser fees, saying a district court had correctly granted summary judgment after the U.S. Supreme Court vacated the Eighth Circuit’s 2009 ruling in the case.

Barring review by the full appeals panel — or yet another trip to the Supreme Court — Friday’s decision brings to a close an intensely litigated class action accusing Ameriprise of breaching its fiduciary duties by overcharging for advisory services and...
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