Pirundini v. J.P. Morgan Inv. Mgmt. Inc.
District Court, S.D. Illinois
1Opinion of the Court
GEORGE B. DANIELS, United States District Judge *159Plaintiff Joan Pirundini brings this shareholder action under Section 36(b) of the Investment Company Act of 1940 ("ICA"), 15 U.S.C. § 80a-35, on behalf and for the benefit of the JP Morgan U.S. Large Cap Core Plus Fund (the "Fund"), against Defendant J.P. Morgan Investment Management Inc. ("JPMIM"), the Fund's investment adviser. (See Compl., ECF No. 1, ¶¶ 1-2, 12.) Plaintiff asserts that JPMIM owed a fiduciary duty to the Fund under Section 36(b) and that it breached that duty by charging the Fund excessively high fees in exchange for…
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