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RJ & Makay

Our view of news, events and human capital trends in the financial services industry.
Tags >> U.S. Court of Appeals

Supreme Court absolves Janus in 5-4 ruling

Posted by RJ and Makay on Jun 17, 2011

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The Supreme Court ruled on Monday that Janus Group and a subsidiary couldn’t be held liable in a shareholder suit over allegedly false statements in prospectuses for several Janus mutual funds.  In a narrow 5-4 for vote, the justices overturned an earlier U.S. Court of Appeals ruling that a class-action securities fraud lawsuit could go forward.