Jay Facciolo
Professor Jay Facciolo and Leland Solon, one of his former students, have just published an article in the New York Law Journal entitled “Sub-Adviser Fee Litigation: Will Section 36(b) Acquire Teeth?” It deals with a wave of class action litigation under the Investment Company Act of 1940 that is gaining real traction in challenging allegedly excessive fees paid by mutual funds to investment advisers to the funds. Successful private actions under the Investment Company Act historically have been few and far between. This article is a followup to an article that was previously published with the New York Law Journal in October 2013.
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