Fiduciary Duty Argued at the U.S. Supreme Court
Jones v. Harris is a case that was argued at the U.S. Supreme Court yesterday and is the focus of much scholarly commentary by corporate law professors around the blogosphere. We previously blogged here and here about the background of the case, which deals, among other things, with a federal statute that imposes a fiduciary duty on those who govern mutual funds. The main issue in this case is whether the management fees charged by particular mutual funds was excessive.
Professor Bainbridge offers insightful commentary here, citing to a Delaware Chancery Court case that addressed the related issue of executive compensation. Prof. William Birdthistle at The Conglomerate blog here offers a mini-symposium on the case and the various issues involved. Prof. Ribstein adds his scholarly analysis here.
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