On June 30, 2025, the Supreme Court granted certiorari in FS Credit Opportunities Corp. v. Saba Capital Master Fund, Ltd., agreeing to resolve a circuit split over whether private parties have an implied right of action to...more
7/15/2025
/ Board of Directors ,
Certiorari ,
Closed-End Funds ,
Corporate Governance ,
Investment Companies ,
Investment Company Act of 1940 ,
Investment Funds ,
Mutual Funds ,
Private Right of Action ,
Registered Investment Companies (RICs) ,
SCOTUS ,
Securities Litigation ,
Securities Regulation ,
Shareholder Activism ,
Shareholder Litigation ,
Split of Authority
On February 14, 2018, the U.S. District Court for the Southern District of New York in Manhattan issued a decision dismissing a complaint brought under Section 36(b) of the Investment Company Act of 1940, as amended, that...more
2/17/2018
/ Arms Length Transactions ,
Board of Directors ,
Dismissals ,
Excessive Fees ,
Fiduciary Duty ,
Financial Adviser ,
Gartenberg Factors ,
Investment Adviser ,
Investment Company Act of 1940 ,
Mutual Funds ,
Section 36(b)
In a case closely watched by the mutual fund industry, the federal district court in New Jersey ruled on Thursday in favor of a mutual fund’s investment adviser and against the shareholders who had brought the lawsuit under...more
8/29/2016
/ Actual Damages ,
Board of Directors ,
Burden of Proof ,
Credibility ,
Excessive Fees ,
Expert Testimony ,
Fiduciary Duty ,
Gartenberg Factors ,
Investment Adviser ,
Judicial Deference ,
Mutual Funds ,
Section 36(b)