PALM DESERT, Calif. - Having exhausted their multimillion-dollar, class-action claims against big tobacco companies, the nation's top trial lawyers are now turning their attention to the mutual fund industry.

According to an expert panel gathered at the Investment Company Institute's Mutual Funds and Investment Management Conference here, these lawyers are using their old tricks-such as direct mailings and newspaper advertisements-to gather shareholders large and small to sue any mutual fund with deep pockets.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.