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On November 2, 2009, the Supreme Court heard oral argument in Jones v. Harris Associates. The issue in this case is whether a shareholder's claim that a mutual fund's investment adviser charged an excessive fee is cognizable under Section 36(b) of the Investment Holding Company Act of 1940, absent a showing that the adviser misled the fund's directors who approved the fee.

To discuss the case, we have the Director of the John L. Weinberg Center for Corporate Governance at the University of Delaware, Professor Charles M. Elson.

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