MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, June 13, 2006 Merrill Shelf-Space Suit Dismissed Merrill Lynch has won a victory in its battle against investors who charge it had illegal shelf-space agreements with mutual fund companies, reports Reuters. Judge Richard Owen, a U.S. district judge for the southern district of New York, dismissed the case on June 9, it emerged Tuesday. The investors claim that Merrill did not sufficiently disclose that it accepted money from firms including Dreyfus, Lord Abbett and BlackRock for each client investing in one of their funds. The court ruled, however, that Merrill had no legal obligation to tell investors more than they did, and that the plaintiffs did not establish a clear link between omitted information and the performance of their investments. Printed from: MFWire.com/story.asp?s=12007 Copyright 2006, InvestmentWires, Inc. All Rights Reserved |