Justices seem unwilling to get involved in fees
By JESSE J. HOLLAND
Associated Press
November 3, 2009
Page 2 of 2
Justice Stephen Breyer, speaking in a raspy voice because of what he said was laryngitis, suggested that justices send the case back to the lower courts to determine what kind of information a mutual fund must give to its investors. Currently, mutual funds advisers do not have to disclose to mutual fund investors what they charge independent funds for similar services.
"We would like, if it's a lot different, to ask him why," Breyer said.
During arguments, the court had a little problem with the clocks in the courtroom due to the change from daylight saving time on Sunday. As lawyers began arguing the case, the clock above the justices was about four hours off. Roberts said that lawyers are often told not to look at the clock above the justices' heads while making their arguments.
"That is particularly important today," Roberts said to laughter.
The case is Jones v. Harris Associates, 08-586. A ruling in the case is expected sometime next year.
>> Back -- Page 1 2
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
++ Discuss this topic in The Forum
Current rating:  4.5 out of 5.0 (2 total votes)
| 
