The investment industry declared victory Tuesday as the Supreme Court ruled in a closely watched case that investor advocates had hoped would make it easier to challenge high fees charged by advisers in the $9 trillion mutual fund business. But industry critics also claimed a win, saying the decision allows plaintiffs to use the kinds of fee comparisons that could help them prove the fees are excessive. The disagreement over the meaning of the ruling likely foreshadows another wave of litigation over adviser fees.
Spin or Win for Investment Industry in High Court Mutual Funds Case?
The National Law Journal
March 31, 2010