A case filed against Janus Capital Group has been dismissed. The case, filed by Janus' shareholders, alleges that executive payment in 2010 was too high "in light of Janus' dismal 2010 financial performance."

Two motions to dismiss were filed, one by the company and the other by the individual defendants. The individual motion said the suit was "one of over a dozen meritless, cookie-cutter complaints filed across the country in wake of the Dodd-Frank Wall Street Reform and Consumer Protection Act".

The presiding judge, Wiley Y. Daniel, determined that the plaintiffs "fail to show a substantial likelihood of liability or create a reasonable doubt that the challenged transactions were the product of liability or create a reasonable doubt that the challenged transactions were the product of a valid exercise of business judgement."

The case, which was originally filed in the U.S. District Court of Colorado, was formally disposed by Judge Daniel on Wednesday.

A Janus spokeswoman said the company was "pleased that the motion to dismiss was granted." 

Edited by: Ben Geier


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