A lawsuit against American Century Investment Management charging that the company imposed excessively high mutual fund fees on three of its funds--and challenging the $1 billion in fees those funds charged between 2003 and 2006--has been dropped.

Analysis Group, an expert witness consultant to law firms and government agencies that worked with American Century's counsel, Milbank, Tweed, Hadley & McCloy, made the announcement yesterday. The trial had been scheduled to begin Aug. 7 in the U.S. District for the Western District of Missouri.

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