United States Second Circuit

Dismissal of complaints for failure to state a claim, regarding allegations defendants charged unreasonably high fees in violation of their fiduciary duties under section 36(b) of the Investment Company Act of 1940, is affirmed as the complaints lack allegations pertinent to the relationship between fees and services, and plaintiffs have not set forth facts necessary to a finding that fees were excessive.

Appellate Information

• Decided 09/26/2006
• Published 09/26/2006

Judges

• HALL, Circuit Judge:, Before: SOTOMAYOR, B.D. PARKER, and HALL, Circuit Judges.

Court

• United States Second Circuit

Counsel

• For Appellant:
  
• Joel C. Feffer, Wechsler Harwood LLP, New York, NY, for Plaintiffs-Appellants.


• For Appellees:
  
• Richard A. Rosen, Paul, Weiss, Rifkind, Wharton & Garrison LLP (Roberta A. Kaplan, on the brief), New York, NY, for Defendants-Appellees.