October 13, 2017 / 2:18 AM / in 9 months

Great-West says lawsuit over fees overreaches to pad damages

Investors suing Great-West Capital Management for allegedly charging excessive fees to manage mutual funds have “badly overreached in an attempt to artificially inflate their purported damages,” the company told a Denver federal court on Wednesday.

In a motion for partial dismissal, Great-West said named plaintiffs in the proposed class action are improperly seeking damages for allegedly inflated fees on more than 60 funds when they only own 19. Some plaintiffs also did not own the funds that paid administrative fees they are objecting to, Great-West said.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2gfmpLZ

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