April 21, 2010
Charles Schwab Corp. agreed to pay $200 million to shareholders of the Schwab YieldPlus Fund ("Bond Fund") who had filed class action suits (later consolidated) against the company between March and May 2008.
March 29, 2010
The United States Supreme Court upheld the Gartenberg standard as the appropriate approach for courts and boards of directors to review mutual fund investment advisory contracts and fees. Click http://xlo3.wpengine.com/files/Publication/76c9f34c-f815-44c0-ae01-63039980b95e/Presentation/PublicationAttachment/506b2911-4f57-4772-8452-741bec682729/Supreme%20Court%20Upholds%20Gartenberg%20Standards.pdf to access a Seward & Kissel Alert on this decision.