BOSTON - A U.S. District Court judge has expressed skepticism about a shareholder's claim that Fidelity Investments of Boston had biased its mutual funds' independent directors and charged funds excessive fees.

Judge Patti Saris said that the case that Fidelity shareholder Richard Krantz has filed might be fatally flawed because Krantz's attorney failed to identify the amount of allegedly excessive fees that Fidelity earned in running two funds. Saris also expressed doubts about the merits of Krantz's claims that the Fidelity directors lost their independence because they serve on the board of directors for more than 200 Fidelity funds. The fact that the directors serve on multiple boards does not mean that they are controlled by Fidelity, Saris said.

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