A Massachusetts Superior Court decision in March 2021 reaffirms the significant contractual, state law, and federal law protections over fund shareholder voting rights.

The U.S. Court of Appeals for the 2nd Circuit, in Oxford University Bank v. Lansuppe Feeder LLC, held that Section 47(b) of the Investment Company Act of 1940 creates a private right of action to seek rescission of an unlawful contract.

A recent ruling by the U.S. Court of Appeals for the Second Circuit greatly missed the mark, and could be concerning for investors relying on the Investment Company Act to keep mutual fund advisors honest.

Plaintiffs in an excessive-fee case against The Hartford received some discouraging news last week when a judge ruled entirely in favor of the adviser at trial, the latest result in a wave of similar lawsuits.

The U.S. Supreme Court’s recent ruling on securities litigation may not be as significant as some suggest.