The AXA Decision: What Does It Mean for Fund Boards and Advisers?

November 14, 2016

In August, a federal court in the District of New Jersey found that shareholder plaintiffs failed to prove that AXA entities charged excessive mutual fund management fees, in violation of Section 36(b) of the Investment Company Act of 1940. A panel of Ropes & Gray attorneys examined the AXA ruling, its potential impact on future Section 36(b) litigation, and its potential lessons for fund boards and advisers.