Legal Opinion
Northstar Financial Advisors Inc. v. Schwab Investments
Court of Appeals for the Ninth Circuit
Decided March 9, 2015No. 11-17187PublishedCited by 119 opinions
1Opinion of the Court
OPINION
KORMAN, District Judge:
The. Investment Company Act (“ICA”) establishes a comprehensive federal regulatory framework applicable to mutual funds. See 15 U.S.C. § 80a-l et seq. More specifically, it provides that a mutual fund’s registration statement must recite all investment policies that can be changed only by shareholder vote. 15 U.S.C. § 80a-8(b). Deviation from policies so designated violates § 13(a) of the ICA. 15 U.S.C. § 80a-13(a)(3). This appeal arises out of a class action on behalf of investors who allege that the managers of the Schwab Total Bond Market Fund (“Fund”) failed…
2Cases cited70 opinions
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- Gustafson v. Alloyd Co.Supreme Court of the United States · 1995
- Mathews v. DiazSupreme Court of the United States · 1976
- Kamen v. Kemper Financial Services, Inc.Supreme Court of the United States · 1991
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3Cited by119 opinions
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