U.S. Supreme Court
Nov. 3, 2009
Court Appears to Defer on Adviser Fees
A majority of U.S. Supreme Court justices seemed reluctant Monday to encourage judges to intervene in the fight over excessive mutual fund fees.
By Lawrence Hurley
Daily Journal Staff Writer
WASHINGTON - Tackling the topical issue of compensation in the financial sector, a majority of U.S. Supreme Court justices seemed reluctant Monday to encourage judges to intervene over excessive mutual fund fees.
The justices appear poised to hand a narrow victory to Harris Associates, a mutual fund adviser that shareholders accused of charging excessive fees.
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