Alert August 19, 2014

ICI Mutual Issues Expert Roundtable Report on Mutual Fund Fee Litigation Under Section 36(b) and ERISA

ICI Mutual issued an Expert Roundtable Report on trends in mutual fund fee litigation under Section 36(b) of the Investment Company Act of 1940 and the Employee Retirement Income Security Act of 1974 (ERISA).  The report provides highlights from a roundtable discussion in which the panelists, one of whom was Goodwin Procter partner Jamie Fleckner, reviewed  various aspects of ERISA and Section 36(b)-based fee litigation (such as the types of plaintiffs and defendants, the violations alleged, and the fund industry’s experience to date) and offered predictions for the future.