A plaintiff would have to state in their initial complaint why fiduciary duty was breached, and then prove the violation with 'clear and convincing evidence' Legislation that would make it more difficult for investors to sue mutual fund companies for excessive fees was poised to advance in the House on Wednesday. The House Financial Services Committee was set to take up a bill that would impose a higher legal burden for plaintiffs when they allege that a fund has violated its fiduciary duty by charging high fees.
For now, the focus has shifted from Puerto Rico's financial woes to meeting the basic needs of its 3.5 million people, many of whom still lack adequate food, water and power more than a week since the Category 4 hurricane laid waste to the U.S. territory. But as Puerto Rico emerges from the worst of the disaster, it will still face a $74 billion public debt load and a decade-old economic recession that has sent hundreds of thousands of islanders fleeing to the U.S. mainland.
Here are two scenarios. One: you are a retiree who in recent years has been concerned about the value of your stock portfolio.
While Wall Street celebrates yet another stock market record - surpassing 20,000 on the Dow Jones industrial average - many Americans have little reason to cheer. Despite the spread of 401 retirement plans, the wealthiest 10 percent of households own roughly 80 percent of stock market wealth.
This story of where Jill Stein has invested her money is reasonably interesting, if just a tad bit unfair. Basically, her retirement is tied up in mutual funds that are terrible because they exploit labor and the environment.
NEW YORK, Oct 12 Investors turned away from risk in the stock market, snatching the most cash from U.S.-based equity funds in five months during the latest week, Investment Company Institute data showed on Wednesday. The withdrawals came as investors tried to stomach fears over Brexit, the stability of Deutsche Bank AG and the timing of the next U.S. interest rate hike.