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Fund Times

American Funds Win in Fee Lawsuit Means Loss for Shareholders

Plus, American Century gets a new CIO.

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American Funds shareholders missed millions of dollars in potential fees savings because of a recent court decision.

On Dec. 28, 2009, Capital Research and Management Company, the investment advisor to the American Funds since 1931, became the latest advisor to prevail in an excessive fee lawsuit.

Ryan Leggio does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.