Legal Opinion
Jill S. Kamen v. Kemper Financial Services, Inc., and Cash Equivalent Fund
Court of Appeals for the Seventh Circuit
Decided July 18, 1990No. 89-2967PublishedCited by 36 opinions
1Opinion of the Court
EASTERBROOK, Circuit Judge.
Cash Equivalent Fund is a money market mutual fund with a sweeps feature. Brokers offer the Fund to their customers as an adjunct to their principal accounts. When an account has a cash balance, a computer “sweeps” the money into the Fund, where it earns interest until the customer reinvests in stocks or other financial instruments; the Fund redeems shares automatically to supply the cash for these transactions. The Fund and its investment adviser, Kemper Financial Services, Inc., say that the extra costs of implementing a sweeps feature and the additional…
2Cases cited41 opinions
- Pepper v. LittonSupreme Court of the United States · 1939
- Sosna v. IowaSupreme Court of the United States · 1975
- Hansberry v. LeeSupreme Court of the United States · 1940
- Aronson v. LewisSupreme Court of Delaware · 1984
- United States v. Kimbell Foods, Inc.Supreme Court of the United States · 1979
36 more not listed; retrieve them via the Exa API.
3Cited by36 opinions
- Kamen v. Kemper Financial Services, Inc.Supreme Court of the United States · 1991
- Claire Rand, Custodian for Brett Rand v. Monsanto CompanyCourt of Appeals for the Seventh Circuit · 1991
- Edward F. BAGDON, Plaintiff-Appellee—Cross-Appellant, v. BRIDGESTONE/FIRESTONE, INC., Defendant-Appellant—Cross-AppelleeCourt of Appeals for the Seventh Circuit · 1990
- Hines v. Commission for Lawyer Discipline, Texas Court of Appeals, 13th District2000
- Watson v. Amedco Steel, Inc.Court of Appeals for the Seventh Circuit · 1994
31 more not listed; retrieve them via the Exa API.