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Article

Williams Mullen | USA | 21 Oct 2010

ERISA fiduciary duties do not apply to employer under a non-ERISA stock and incentive plan

A recent case from the Second Circuit has provided useful guidance regarding the scope of ERISA fiduciary duties.

Article

Jones Day | USA | 21 Apr 2010

Reaffirming Gartenberg: the Supreme Court upholds the long-standing framework for evaluating mutual fund fees

On March 30, 2010, the Supreme Court unanimously reversed and remanded the Seventh Circuit's denial of an appeal of summary judgment by plaintiffs alleging that a mutual fund's investment adviser charged excessive advisory fees.

Article

Eversheds Sutherland (US) LLP | USA | 6 Jul 2009

Key briefs filed in Jones v. Harris Associates regarding compensation paid to mutual fund advisors

Less than one week after Petitioners filed their brief, the SEC and the Justice Department filed an amicus curiae brief where the Supreme Court granted certiorari to decide “whether the United States Court of Appeals for the Seventh Circuit erroneously held, in conflict with the decisions of three other circuits, that a shareholder’s claim that the fund’s investment adviser charged an excessive feemore than twice the fee it charged to funds with which it was not affiliatedis not cognizable under 36(b) of the Investment Company Act of 1940, unless the shareholder can show that the adviser misled the fund’s directors who approved the fee.”

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