Law360, New York (June 15, 2006, 12:00 AM EDT) -- The U.S. Supreme Court has sent a series of lawsuits against Putnam Funds Trust, a subsidiary of Marsh & McLennan Cos., back to state court where they were initially filed, ruling that a federal appeals court had erred by overturning a trial judge’s decision to permit the cases to continue in state court.
While the unanimous ruling Thursday signifies a victory for investors who have hit Putnam Funds with allegations of negligence and breach of fiduciary duty, the company could contest in state court that the...
High Court Hurls Putnam Lawsuits Back To State Court
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