MutualFundWire.com: Mutual Fund Fees are No Stranger to Obama's Supreme Court Pick

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Monday, May 10, 2010

Mutual Fund Fees are No Stranger to Obama's Supreme Court Pick

Elena Kagan
Solicitor General of the United States

Fundsters may want to keep any eye on the drama surrounding the future of this nation's highest court. The next Associate Justice on the United States Supreme Court may enter with prior experience of legal fights involving allegedly excessive mutual fund fees. Reuters' Caren Bohan and Steve Holland report that U.S. Solicitor General Elena Kagan, President Barack Obama's pick to replace the retiring Justice John Paul Stevens, previously "supported shareholders in a case about excessive mutual fund fees."

Specifically, last year Reuters' reported that Kagan filed a briefing with the Supreme Court on behalf of the federal government, supporting investors in Jones v. Harris Associates. Her briefing claimed that even full disclosed fees violate the fund firm's duty if the fees are excessive.

Obama officially revealed Kagan as his nominee this morning.

Printed from: MFWire.com/story.asp?s=32166

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