Paskowitz v. Prospect Capital Management LP.

OPINION & ORDER

LOUIS L. STANTON, United States District Judge.

Plaintiff Susan Paskowitz seeks pursuant to Section 36(b) of the Investment Company Act of 1940 (“ICA”), 15 U.S.C. § 80a-35(b), to recover what she claims are excessive fees paid by Prospect Capital Corporation (“Prospect”) to defendants Prospect Capital Management L.P. (“PCM”) and Prospect Administration LLC (“PA”) for investment advisory and administrative services. Defendants move to dismiss the complaint for failure to state a claim upon which relief can be granted.

For the reasons that follow, defendants’ motion is granted.

BACKG…