Legal Opinion
Jones v. Harris Associates L.P.
Court of Appeals for the Seventh Circuit
Decided May 19, 2008No. 07-1624PublishedCited by 14 opinions
1Opinion of the Court
EASTERBROOK, Chief Judge.
Harris Associates advises the Oakmark complex of mutual funds. These open-end funds (an open-end fund is one that buys back its shares at current asset value) have grown in recent years because their net returns have exceeded the market average, and the investment adviser’s compensation has grown apace. Plaintiffs, who own shares in several of the Oakmark funds, contend that the fees are too high and thus violate § 36(b) of the Investment Company Act of 1940, 15 U.S.C. § 80a-35(b), a provision added in 1970. The district court concluded that Harris Associates had not…
2Cases cited7 opinions
- Firestone Tire & Rubber Co. v. BruchSupreme Court of the United States · 1989
- Alexander v. SandovalSupreme Court of the United States · 2001
- Continental Illinois Securities Litigation v. Continental Illinois CorporationCourt of Appeals for the Seventh Circuit · 1992
- Gartenberg v. Merrill Lynch Asset Management, Inc.Court of Appeals for the Second Circuit · 1982
- In the Matter Of: Synthroid Marketing LitigationCourt of Appeals for the Seventh Circuit · 2003
2 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- Jones v. Harris Associates L. P.Supreme Court of the United States · 2010
- United States v. David WeimertCourt of Appeals for the Seventh Circuit · 2016
- In Re Mutual Funds Inv. LitigationDistrict Court, D. Maryland · 2008
- Lawson v. FMR LLCDistrict Court, D. Massachusetts · 2010
- Gallus v. Ameriprise Financial, Inc.Court of Appeals for the Eighth Circuit · 2009
9 more not listed; retrieve them via the Exa API.