Legal Opinion
American Chemicals & Equipment Inc. 401 (K) Retirement Plan v. Principal Management Corp.
Court of Appeals for the Eighth Circuit
Decided July 24, 2017No. 16-1576, 16-1580, 16-1712PublishedCited by 3 opinions
1Opinion of the Court
LOKEN, Circuit Judge.
Section 36(b) of the Investment Company Act (ICA) of 1940, 15 U.S.C. § 80a-35(b), provides that an action may be brought “by a security holder of [a] registered investment company on behalf of such company, against [its] investment adviser ... for breach of fiduciary duty in respect of [the] compensation [for services] or payments [of a material nature] paid by [the] registered investment company or by the security holders thereof to [its] investment adviser.” American Chemicals <& Equipment 401(K) Retirement Plan (ACE) invested in ■ six- LifeTime Funds, which are mutual…
2Cases cited11 opinions
- Lexmark Int'l, Inc. v. Static Control Components, Inc.Supreme Court of the United States · 2014
- Investment Company Institute v. CampSupreme Court of the United States · 1971
- Burks v. LaskerSupreme Court of the United States · 1979
- Daily Income Fund, Inc. v. FoxSupreme Court of the United States · 1984
- Northwest Airlines, Inc. v. County of KentSupreme Court of the United States · 1994
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3Cited by3 opinions
- Ivan Mitchell v. Blue Cross Blue Shield of NDCourt of Appeals for the Eighth Circuit · 2020
- GS Labs, LLC v. Medica Insurance CompanyDistrict Court, D. Minnesota · 2023
- GS Labs, LLC v. Medica Insurance CompanyDistrict Court, D. Minnesota · 2023