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Reed Smith LLP | USA | 12 Apr 2010
U.S. Supreme Court holds that Gartenberg is the standard to assess whether a mutual fund adviser has violated Section 36(b) of the Investment Company Act of 1940
On March 30, 2010, the United States Supreme Court decided Jones v. Harris Associates, L.P., No. 08-586, 556 U.S. ___ (2010), addressing the appropriate legal standard for assessing claims against mutual fund investment advisers and their affiliates under Section 36(b) of the Investment Company Act of 1940 ("Section 36(b)").