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Home / Courts / Supremes ponder service provider’s securities liability (access required)

Supremes ponder service provider’s securities liability (access required)

The justices of the U.S. Supreme Court grappled with the question of whether a claim may be stated against a service management company for alleged securities violations of the mutual funds it sponsors. Appealed from the 4th Circuit, the case, Janus Capital Group v. First Derivative Traders, is a class action brought by shareholders who claim they received misleading information in prospectuses regarding a group of mutual funds - Janus Funds, sponsored by the Janus Capital Group, which is managed by its subsidiary Janus Capital Management (JCM).

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