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ARTICLE · 31 AUGUST 2011

Financial Services Alert – August 30, 2011

Goodwin Procter LLP
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The U.S. District Court for the Northern District of California (the "District Court") (Judge Koh presiding) issued an order (the "Order") that dismissed with prejudice the final remaining claims in an investor class action suit against a bond index fund (the "Fund"), its trustees, the Fund’s adviser (the "Adviser") and related entities, alleging losses incurred as a result of investments in mortgage-related securities that were inconsistent with the Fund’s investment objective and violated its

United StatesFinance and Banking
Robert Kurucza
Robert Kurucza

Development of Note

  • Federal District Court Dismisses Direct Claims by Mutual Fund Investors Alleging Deviation from Fund's Investment Objective

Other Items of Note

  • SEC Open Meeting to Address Derivatives Use by Registered Funds, Investment Company Exclusion for ABS Issuers and Status of Companies that Acquire Mortgages and Mortgage-Related Instruments
  • CFTC Issues Final Whistleblower Rules

DEVELOPMENT OF NOTE

Federal District Court Dismisses Direct Claims by Mutual Fund Investors Alleging Deviation from Fund's Investment Objective

The U.S. District Court for the Northern District of California (the "District Court") (Judge Koh presiding) issued an order (the "Order") that dismissed with prejudice the final remaining claims in an investor class action suit against a bond index fund (the "Fund"), its trustees, the Fund's adviser (the "Adviser") and related entities, alleging losses incurred as a result of investments in mortgage-related

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