Top of the Agenda - Legal

Ninth Circuit 'moots' earlier Northstar opinion
By FBV Staff
The Ninth Circuit Court of Appeals put an end to the Northstar Financial Advisors v. Schwab Investments class action on Sept. 14 after 10 years, according to an alert issued by Ropes & Gray. A panel of three Ninth Circuit judges ruled that Northstar’s lawsuit filed in 2008 against Schwab ...  >> CONTINUE READING <<<

 

 

A Seat at the Table

Thrivent forms board to oversee new interval fund
By Hillary Jackson
Thrivent Financial is entering the interval fund business and has assembled a new board to oversee its first offering, the soon-to-be-launched Thrivent Church Loan & Income Fund. George Morriss will serve as independent chairman, and he told Fund Board Views in an interview that the board is seeking one or ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Legal

Colorado judge narrows scope of Great-West 36(b) case
By Hillary Jackson
A U.S. District Court judge in Colorado has narrowed the scope of an excessive fees case against Great-West Capital Management by limiting the plaintiffs to suing only on behalf of funds in which they are invested and dismissing plaintiffs who are not shareholders at all. The defendant's motion to dismiss ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Legal

Shareholder sues Highland Funds board, adviser
By Hillary Jackson
A shareholder has filed a class-action complaint and three derivative claims against the board members of a Highland Funds trust and adviser Highland Capital Management Fund Advisors, asserting breach of fiduciary duty, breach of contract, and breach of the implied covenant of good faith and fair dealing. The lawsuit centers ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Legal

Third Circuit upholds Hartford 36(b) ruling
By Hillary Jackson
Plaintiffs in an excessive fees case against Hartford Investment Financial Services have failed in their appeal of a lower court's dismissal of the lawsuit. The ruling, which was handed down in late August by the U.S. Court of Appeals for the Third Circuit, is the latest to favor the mutual ...  >> CONTINUE READING <<<

 

 


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Top of the Agenda - Legal
 PIMCO 36(b) case dismissed

The parties in a 2014 lawsuit accusing PIMCO of overcharging Total Return Fund shareholders while lavishly compensating CIO Bill Gross and CEO Mohamed El-Erian agreed this week ...