Supremes Ask Obama What to Do With Janus
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Monday, January 11, 2010

Supremes Ask Obama What to Do With Janus

Will Janus wind up fighting, in front of the Supreme Court, against shareholders? The Wall Street Journal's Brent Kendall and the Denver Business Journal's Renee McGaw both report that U.S. Supreme Court justices asked President Barack Obama's Solicitor General, Elena Kagan, to weigh in on whether or not the court should hear an appeal from Janus.

President Obama

Janus Capital Group v. First Derivative Traders, a shareholder suit first filed in 2003 reacting to the market timing scandals, came back from the dead last year when the U.S. Court of Appeals for the Fourth Circuit reversed a lower court's dismissal.

Separately, Janus settled with regulators for $225 million back in 2004.

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