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.
March 31, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The investment industry declared victory Tuesday as the U.S. 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 in the case of Jones v. Harris Associates, asserting that the high court decision allows plaintiffs to use the kinds of fee comparisons that could help them prove that advisers’ fees are excessive.
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