Legal Opinion
Laborers' Local 265 Pension Fund v. iShares Trust
Court of Appeals for the Sixth Circuit
Decided September 30, 2014No. 13-6486PublishedCited by 44 opinions
1Opinion of the Court
OPINION
RONALD LEE GILMAN, Circuit Judge.
An affiliate of the investment advisor for iShares mutual fund functions as a middleman between iShares and those who seek to borrow iShares’s securities holdings, charging a fee of 35% for all net revenue received by iShares from such lending activity. The plaintiff shareholders challenge this fee as excessive under the Investment Company Act of 1940 (ICA), 15 U.S.C. § 80a-l et seq. Their complaint was dismissed by the district court for failure to state a claim. For the reasons set forth below, we AFFIRM the judgment of the district court.
I. BACKGROUND
2Cases cited20 opinions
- Ashcroft v. IqbalSupreme Court of the United States · 2009
- Bell Atlantic Corp. v. TwomblySupreme Court of the United States · 2007
- Alexander v. SandovalSupreme Court of the United States · 2001
- Touche Ross & Co. v. RedingtonSupreme Court of the United States · 1979
- Lambert v. HartmanCourt of Appeals for the Sixth Circuit · 2008
15 more not listed; retrieve them via the Exa API.
3Cited by44 opinions
- Puckett v. Lexington-Fayette Urban County GovernmentCourt of Appeals for the Sixth Circuit · 2016
- Linda Grubbs v. Sheakley Group, Inc.Court of Appeals for the Sixth Circuit · 2015
- Greg Adkisson v. Jacobs Engineering Group, IncCourt of Appeals for the Sixth Circuit · 2015
- Starnes Canale Funeral Directors v. Regions Morgan Keegan SelectCourt of Appeals for the Sixth Circuit · 2016
- New Doe Child 1 v. Congress of the United StatesCourt of Appeals for the Sixth Circuit · 2018
39 more not listed; retrieve them via the Exa API.