MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, February 19, 2009 American Funds Beats Back 12b-1 Suit The countless fundsters whose offerings pay 12b-1 fees can rest a little easier. A lawsuit against American Funds manager Capital Research and Management Company, challenging fees paid to broker-dealers out of the EuroPacific Growth Fund, just got dismissed from court. American Lawyer's Andrew Longstreth reports that Capital Group's law firm -- Milbank, Tweed, Hadley & McCloy -- prevailed last week and convinced Los Angeles federal district court judge Gary Feess to dismiss the case (filed by EuroPacific shareholder Rachelle Korland) without prejudice. Milbank partner James Benedict said he's already getting thank-you notes from other big fund firms. Printed from: MFWire.com/story.asp?s=20793 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |