Shareholders suffered another in a string of losses in cases they have brought challenging the independence of mutual fund directors.

U.S. District Court Judge Whitman Knapp of New York has dismissed a case that shareholder T. Robert Verkouteren filed against BlackRock Financial Management of New York in which Verkouteren alleged that the BlackRock funds' directors were too closely aligned with BlackRock to maintain their independence. Verkouteren failed to offer any evidence that BlackRock controlled the funds' independent directors, Knapp said in a 10-page decision dated July 16.

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