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28 gru 2023 · A federal judge in Pennsylvania declined to toss a complaint with breach-of-fiduciary-duty and statutory claims — including one based on the Illinois Consumer Fraud Act — against the folks who run one of Vanguard’s retirement-oriented mutual funds.The class action plaintiffs — investors in a Vanguard “retail fund” — contend they ...
27 lis 2023 · A pivotal lawsuit against Vanguard regarding its target-date funds is set to advance, as ruled by a federal judge. The litigation, initiated by a group of investors seeking to form a class action, was partly upheld by Judge John F. Murphy, allowing it to enter the discovery stage.
BACKGROUND The Plaintiffs in In re Vanguard allege that the management and trustees of the Vanguard Chester Funds (“the Funds”) breached their fiduciary duties to shareholders by altering shareholders’ eligibility to purchase the lower-fee, Investor Classes of the Funds, which resulted in a foreseeable taxable event which harmed smaller ...
The appellate court and Illinois Supreme Court affirmed dismissal of the suit. The injunction did not mention changes of beneficiaries; the change of beneficiary did not vest during the pendency of the injunction or the combined underlying actions.
The case data available on-line is the electronic docket which contains brief summaries of court documents and court events in a particular case. The electronic docket information available through this service is not the official record of the court.
21 sie 2023 · In the complaint, Plaintiffs stated that “Vanguard offers ‘set-it-and-forget-it’ target date retirement funds. These funds are organized as a trust and managed by the same trustees. The investment strategy is based on a target retirement year, such as 2030 or 2050.”
7 lut 2024 · Hi folks - We wanted to take a moment to address the growing concerns over Vanguard and how it may impact third-party applications. We’re still figuring out all the details, but here’s where we’re at: QUESTIONS? We’ll be in touch with more updates soon!
