First Eagle Clients Drop $238M Suit Claiming Too-High Fees

Law360, New York (August 10, 2017, 5:21 PM EDT) -- Investors in two funds run by First Eagle Investment Management LLC who accused the adviser of charging $238 million in excess fees every year have given up on their suit after more than a year of discovery, according to papers filed in Delaware federal court on Wednesday.

Suing on behalf of the funds, trusts for Lynn M. Kennis and Ronald J. Kennis that invested their money in First Eagle’s global and overseas funds alleged the asset manager had been charging them unreasonable fees. The suit is...
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