The New York Times today published an editorial on the Supreme Court's 5-4 decision on Monday regarding the Janus Capital Group v First Derivatives Traders case.

Here's an excerpt from the editorial:

There is no doubt that Janus Capital Group is responsible. It used legal ventriloquism to speak through the business trust and Janus funds. Janus Capital Management does everything for the funds, which have no employees. As Justice Stephen Breyer writes in dissent, "The relationship between Janus Management and the Fund could hardly have been closer." For the majority, though, it is far enough apart to let the mutual fund industry and possibly others off the hook.

Click here to see the complete editorial. 

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