Gary Cohen Authors Article in The Investment Lawyer on Section36(b) Lawsuits

Financial Services Regulatory   |   Securities Transactions and Compliance   |   Securities & Investment Companies   |   March 1, 2020
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Carlton Fields federal securities law attorney Gary Cohen authored an article in The Investment Lawyer titled, “Fund Advisers Face Another Class of Plaintiffs Bringing Section 36(b) Lawsuits,” reviewing the recent increase lawsuits from owners of variable annuity contracts and variable life insurance policies.

These lawsuits come after a recent Third Circuit ruling that “an insurance contract owner had standing to sue the investment adviser of a mutual fund underlying a life insurance company separate account, even though the insurance contract owner was a not a record shareholder of the fund.”

Cohen advises that investment advisers can seek security through the evaluation and approval process for continuing investment advisory agreements under Section 15(c).

Read the article.

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