Recently, a new reader who discovered Consumerism Commentary due to my multi-year coverage of Bank of America (primarily the articles pertaining to the overdraft fee class-action lawsuit), wanted to share a cautionary tale about the same bank.
When the same fund had two share classes, I selected the share class with the lowest fee.
Reasons you might want to keep your retirement nest egg in your 401(k) by doing an in-plan conversion include access to lower-fee institutional class funds, and for better creditor protection.
Even at the higher level, she noted, it is below the 22% Lowey Dannenberg negotiated with its clients and well below prevailing fee awards in class actions in New York.
FORBES: Judge Slams Contract-Attorney Charges In Madoff Feeder Fund Case
Some schools are starting to offer class credit for MOOCs for a fee.
Recognizing that this raises costs for all its investors, even those who buy directly from Davis, the fund sponsor created a new share class for each fund without the 12b-l fee for direct investors.
Despite their lackluster performance as an asset class, most hedge fund managers stuck with their current fee structures or raised fees (5% raised them), according to the Hennessee Group.
Class-action activist Ted Frank has filed an objection to the proposed fee, however, saying the markups on contract attorneys are excessive given experience levels of many of the lawyers involved.
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They asked whether an arbitrator could be impartial when his fee would be greatly magnified by ruling in favor of a lengthy class action, instead of merely deciding the individual case in front of him.
FORBES: Supreme Court Shows Skepticism About Class Arbitration
Dornan's class action alleges that at least since 1990 variable annuity underwriters and Morgan Stanley maintained "secret contingent fee sharing arrangements" in which a portion of commission revenue was paid to the brokerage as an incentive to sell the product.
Italian Colors, where lawyers want to bring a class action accusing Amex of violating antitrust laws by requiring merchants to accept Amex debit and credit cards at the same fee level.
The Supreme Court could use this case to revisit the question of whether class actions are driven by the interests of real plaintiffs with real monetary claims, or lawyers interested in a big fee.
FORBES: Supreme Court Mulls Affirmative Action, Class Actions In Fall Docket
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