CapWealth Advisors founder Tim Pagliara said a federal jury sided with the firm because its clients had, in fact, paid lower overall fees on their mutual funds.
CapWealth went up against an SEC staff of eight attorneys, jury experts and two paralegals, and won a rare victory related to share class disclosure conflicts.
North American Morning Briefing: Retailers in Focus with Walmart, Home Depot Earnings morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
U.S. stocks extended declines Monday, with benchmark 10-year Treasury note yields piercing a fresh 2-year high of 1.8%, as investors continue to re-set prices for stocks, bonds and currencies following last week s hawkish Fed minutes and robust jobs data.