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Supreme Court nixes shareholders’ 10-b claim (access required)

Published: June 13, 2011

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A service management company cannot be liable under Securities and Exchange Commission Rule 10b-5 for alleged securities violations of the mutual funds it sponsors, the U.S. Supreme Court has ruled. The case was a class action brought by shareholders who claimed they received misleading information in prospectuses regarding a group of Janus Funds sponsored by the ...
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