T. Rowe Must Face Suit Over $388M In Mutual Fund Fees

Law360, Los Angeles (March 31, 2017, 10:22 PM EDT) -- A Maryland federal judge on Friday said T. Rowe Price Associates Inc. must face claims that it charged disproportionately large fees to certain mutual funds, causing them to overpay $388 million more in fees on an annual basis, saying the funds asserted plausible allegations.

The ruling pertains to a suit brought pursuant to the Investment Company Act by seven individuals who owned shares in eight of the mutual funds advised and managed by the Baltimore-based investment adviser. The investors allege T. Rowe Price charged them investment...
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