The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
Thursday, November 18, 2010|
45. John Donovan
In a 9-0 decision, the Court set the standard by which "excessive fee" claims under Section 36(b) of the Investment Company Act are measured. The ruling also endorsed the primacy of independent fund directors in setting fees, and rebuffed attempts by plaintiffs’ lawyers to encourage increased judicial scrutiny of fees.
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