Alert November 03, 2009

Supreme Court Hears Oral Argument for Review of Seventh Circuit Decision in Harris Associates

On November 2, 2009, the U.S. Supreme Court heard oral argument in its review of the decision by the U.S. Court of Appeals for the Seventh Circuit in Jones v. Harris Associates L.P., 527 F.3d 627 (7th Cir. 2008), an excessive fee suit under Section 36(b) of the Investment Company Act of 1940.  (For background on this case, see the March 10, 2009 and June 3, 2008 Alerts.)  The Supreme Court has posted a transcript of the oral argument on its website.