An Update On Excessive Fee Litigation

In 2010, the Supreme Court, in Jones v. Harris Associates, L.P., 559 U.S. 335 (2010), issued a significant decision concerning Section 36(b) of the Investment Company Act of 1940, which imposes a fiduciary duty on mutual fund advisers with respect to the fees they receive from the funds they manage.  So what happened next in the world of Section 36(b) litigation?

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