District Court Upholds Application of Jones v. Harris Associates
Ropes & Gray litigators secure significant victory in mutual fund industry case
These litigators previously led a Ropes & Gray team representing mutual fund advisor Harris Associates before the United States Supreme Court in Jones v. Harris Associates. The decision in Jones definitively established the standard governing claims of allegedly excessive mutual fund fees, reaffirmed the central role of independent directors in setting advisory fees, and rejected the plaintiffs’ central argument that mutual fund fees should be judged primarily by comparison to fees charged other types of accounts.
To read more on Jones v. Harris Associates, please click here.
Ropes & Gray has one of the largest and most experienced securities litigation practices in the country. The firm serves as general or special counsel to more than 100 public companies and advises more than 500 mutual funds or fund boards.