Top of the Agenda - Legal

UPDATED: Court denies plaintiffs' 'Hail Mary' petition in BlackRock 36(b) case

By Hillary Jackson

The U.S. Court of Appeals for the Third Circuit has denied a petition from plaintiffs in an excessive fees lawsuit against BlackRock to rehear the case. Considered a long shot, an en banc session is one in which the case is heard before all the judges of the court rather ... >> CONTINUE READING <<<

Plaintiff appeals dismissal of suit against Highland, fund board

By Hillary Jackson

The plaintiff in a lawsuit filed nearly two years ago against the board members of a Highland Funds trust and adviser Highland Management Fund Advisors has appealed a Texas judge's dismissal of the case. The suit, Lanotte v. Highland Capital Mgmt. Fund Advisors, L.P., included a class-action complaint and three ... >> CONTINUE READING <<<

BlackRock 36(b) win affirmed by appeals court

By Hillary Jackson

The U.S. Court of Appeals for the Third Circuit has affirmed two lower court decisions in favor of the defendant in an excessive fees case against BlackRock, effectively ending litigation that dates back to 2014. When the case went to trial in August 2018, it was the first time the ... >> CONTINUE READING <<<

Greene, Baris join Sidley Austin funds group

By Hillary Jackson

Mutual fund industry lawyers Nathan Greene and Jay Baris joined Sidley Austin LLP's New York office over the weekend as partners in the Investment Funds group. Both moved over from Shearman & Sterling. William Kerr, global leader of the funds practice at Sidley, said the two lawyers' "deep knowledge and experience ... >> CONTINUE READING <<<

JPMorgan wins on summary judgment appeal in excessive fees case

By Hillary Jackson

The Sixth Circuit Court of Appeals this week affirmed a district court's 2018 decision granting summary judgment to defendant JPMorgan Investment Management in an excessive fees case that dates back to 2014. Oral arguments before the appellate court took place more than a year ago in Goodman v. JPMorgan Investment ... >> CONTINUE READING <<<

Vedder Price adds Bateman, Vargo to DC office

Maguerite Bateman and Kimberly Karcewski Vargo joined Vedder Price earlier this month from Schiff Hardin. Both are shareholders in the Investment Services Group in Vedder Price's Washington, D.C., office, where now 50% of all shareholders are female and 48% of all attorneys are female.

Bateman led the Financial Markets and Products ... >> CONTINUE READING <<<