Great-West Capital Management LLC won dismissal of a shareholder derivative action alleging its mutual fund fees are excessive after the District of Colorado found “persuasive and credible evidence that overwhelmingly proved that their fees were reasonable.”
The U.S. District Court for the District of Colorado dismissed the Investment Company Act claims against Great-West Capital and Great-West Life and Annuity Insurance Co. following a bench trial.
The advisory and administrative fees were within the range of comparable funds, the defendants’ profits were within the range of their competitors, and the companies provided “extensive, high-quality services in exchange for their fees,” the ...
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