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Wednesday, December 08, 2010

Janus Suit Could Divide the Supremes

News summary by MFWire's editors

Yesterday, the Supreme Court looked at a ruling that allowed shareholders to slap suit against Janus and a subsidiary over allegedly misleading prospectuses. Bloomberg reports that the justices "signaled they are divided about restricting securities fraud suits by shareholders of mutual fund companies."

That could possibly leave Justice Anthony Kennedy to make the deciding vote, the wire service reports. 

Edited by: Armie Margaret Lee


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