Companies Mentioned

Harris Associates, L.P.

Category
Title
Summary
Date
Commentaries
Securities Law

Jones v. Harris: Gartenberg Is the Proper Standard to Assess Whether Advisor Fees Are Excessive
The Supreme Court of the United States has embraced the Gartenberg standard for analyzing claims of excessive fund advisory fees under section 36(b) of the Investment Company Act of 1940. The Court’s unanimous opinion in Jones v. Harris Associates, ___ U.S. _____, 130 S.Ct. 1418 (2010), ended a dispute among…
Posted:
05/21/2010
Summaries
Securities Law >
New Judicial Opinions

Supreme Court Grants Certiorari in Mutual Fund Fee Suit Against Harris Associates
Defendant Harris Associates, L.P. advised the Oakmark complex of mutual funds. These open-end funds (an open-end fund is one that buys back its shares at current asset value) have grown in recent years as a result of their net returns exceeding the market average, and the compensation for investment adviser’s…
Date of ruling:
03/9/2009
Commentaries
Securities Law

The Dissent in Jones v. Harris Associates – Defending Gartenberg, Requesting Review (Re: The August 8, 2008 Opinion)
The renowned legal minds of 7th Circuit judges Frank Easterbrook and Richard Posner have clashed again, this time over the validity and applicability of the Gartenberg approach to claims of excessive mutual fund management fees. Judge Easterbrook, currently chief judge of the 7th Circuit, served on the panel that issued…
Posted:
08/26/2008
Commentaries
Securities Law

Jones v. Harris Associates: The Market (Not the Courts) Should Set Fund Advisor Fees
Jerry N. Jones v. Harris Associates, 527 F.3d 627 (7th Cir. 2008), was one of about a dozen cases brought in 2003 and early 2004 based on the “excessive fee” provisions of the Investment Company Act of 1940. In the case, a group of individual investors claimed that Harris Associates,…
Posted:
07/16/2008
Summaries
Securities Law >
New Judicial Opinions

Circuit Court Turns Down Appeal against Harris Associates, Refusing to Put a Cap on Mutual Fund Advisory Fees
Defendant Harris Associates, L.P. advised the Oakmark complex of mutual funds. These open-end funds (an open-end fund is one that buys back its shares at current asset value) have grown in recent years as a result of their net returns exceeding the market average, and the compensation for investment adviser’s…
Date of ruling:
05/19/2008
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