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ARTICLE · 06 JULY 2011
Financial Services Alert - July 5, 2011
Goodwin Procter LLP
Two different judges in the same Massachusetts state court dismissed two separate class actions – each brought against an adviser to a group of closed-end funds, certain of the adviser’s affiliates and the funds’ board by holders of the funds’ common shares (and each case involving a different adviser, closed-end fund group and board), holding that those claims must be brought derivatively on the funds’ behalf rather than as direct class actions.
United StatesFinance and Banking
