Judge’s Ruling Questions Attorney-Client Privilege for Mutual Fund Trustees

 
FinOps Report
December 19, 2016

David Mahaffey was quoted in the article, "Judge's Ruling Questions Attorney-Client Privilege for Mutual Fund Trustees," which was published in the FinOps Report on December 19, 2016. The article discusses a recent federal district court decision out of Washington State in which the judge ordered the Pacific Investment Management Company (Pimco) to provide over 200 pages of privileged communications between Pimco's independent trustees and their legal counsel about the advisory fees Pimco earned, thus ruling that the rights of mutual fund investors to fair advisory fees trump the rights of independent mutual fund trustees to attorney-client confidentiality.