Companies Mentioned

Ameriprise Financial Services, Inc. F.k.a. American Express Financial Advisors, Inc.

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Summaries
Securities Law >
New Judicial Opinions

Eighth Circuit Reinstates Fund Advisory Fee Action Against Ameriprise Financial
This appeal required the Eighth Circuit to examine the scope of the fiduciary duty imposed on advisers of mutual funds by § 36(b) of the ICA, 15 U.S.C. § 80a-35(b). The plaintiffs are shareholders of eleven mutual funds (“the Funds”) that are registered investment companies under the ICA. The Funds…
Date of ruling:
04/8/2009