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Rating:Janus Excessive Fee Suit Is Headed for Dismissal Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, May 07, 2007

Janus Excessive Fee Suit Is Headed for Dismissal

Reported by Erin Kello

Janus Capital Group recently got some good news in regards to a pending excessive fee lawsuit (of Sins, et al. v Janus Capital Management) against the company.

The excessive fee litagation, filed by fund investors asserts a breach of fiduciary duty under section 36(b)of the 40 Act.

Last month, the parties jointly filed a Stipulation Regarding Dismissal of Claims With Prejudice (“Stipulation of Dismissal”), Janus said in an SEC filing last week.

This is a non-monetary mutual agreement by both companies to dismiss the case.

In the filing dated May 1, Janus stated that it "anticipates that the Colorado District Court will approve the Stipulation of Dismissal in the upcoming weeks."

A spokesperson for Janus told The MFWire that "dismissing this case makes sense, it is in the best interest of our shareholders." 

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