A recent federal court ruling gives plaintiffs' attorneys additional encouragement to bring suits against mutual fund companies.

A U.S. District Court judge in Chicago has refused to dismiss a lawsuit against Nuveen Advisory Corp. of Chicago which alleges that Nuveen breached the duty it owed to shareholders of six closed-end funds. Judge Elaine Bucklo held in a decision dated March 30 that shareholders can sue Nuveen for allegedly violating the fiduciary duty it owed shareholders without proving that the fees Nuveen charged the funds were excessive.

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