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The Fiduciary Duty In Mutual Fund Excessive Fee Cases: Ripe For Reexamination, Emily D. Johnson
The Fiduciary Duty In Mutual Fund Excessive Fee Cases: Ripe For Reexamination, Emily D. Johnson
Duke Law Journal
Congress imposed a fiduciary duty regarding compensation on investment advisors by adding Section 36(b) to the Investment Company Act of 1940. Legislators intended this fiduciary duty to protect mutual fund investors from excessive management fees. It has failed. Mutual fund investors continue to pay significantly higher fees than institutional investors for the same money management services. In Jones v. Harris Associates, decided in 2008, the Seventh Circuit broke with the widely followed, thirty-year-old precedent of Gartenberg v. Merrill Lynch Asset Management. Chief Judge Easterbrook authored the majority opinion and Judge Posner wrote vigorously in dissent. This disagreement between two titans …
Are American Ceos Overpaid, And, If So, What If Anything Should Be Done About It?, Richard A. Posner
Are American Ceos Overpaid, And, If So, What If Anything Should Be Done About It?, Richard A. Posner
Duke Law Journal
No abstract provided.