Within recent weeks, there have been three noteworthy court rulings in pending Section 36(b) cases, with one court granting a motion to dismiss and two different courts fully granting substantive motions for summary judgment....more
On March 13, 2018, the United States District Court for the Northern District of Illinois entered summary judgment for Harbor Capital Advisors, Inc. (“Harbor”) in consolidated actions brought under Section 36(b) of the...more
On February 14, 2018, the U.S. District Court for the Southern District of New York in Manhattan issued a decision dismissing a complaint brought under Section 36(b) of the Investment Company Act of 1940, as amended, that...more
The U.S. mutual fund industry is poised to see significant developments in the ongoing wave of Section 36(b) “excessive fee” litigation. Days apart in August, the Seventh Circuit Court of Appeals affirmed the grant of summary...more