With Sari Alamuddin, Gregory Braden, Joseph Costello, William Delany, Nicole Diller, Donald Havermann, Charles Jackson, Brian Ortelere, Ellen Perlioni
On March 30, in Jones v. Harris Associates L.P., No. 08-586, __ U.S. __, 2010 WL 1189560 (Mar. 30, 2010)1, the U.S. Supreme Court unanimously affirmed the Second Circuit’s analysis in Gartenberg v. Merrill Lynch Asset Management, Inc., 694 F.2d 923 (2d Cir. 1982), as the standard by which the fees mutual funds pay to their investment advisers should be evaluated under Section 36(b) of the Investment Company Act of 1940 (the ICA).