Saminsky v. Abbott

Seitz, Chancellor;

This is the-decision on an application to approve the settlement of this action.

This action was commenced as a representative suit by certain certificate holders of some six common law trusts which form a part of the so-called Keystone Custodian Funds. Basically, plaintiffs challenged the validity of the underwriting contract and the amount and percentage scale of the management fées and recurring charges paid to the Trustee.' On defendants’, motion for summary judgment, the court ruled that the then existing underwriting contract was void under the Investment Company Act of…