Securities Fraud Lawyer - ING Principal Protection Fund Fee Litigation
Shapiro Haber & Urmy LLP represented shareholders of three ING Principal Protection Funds who brought suit alleging that the advisory fees charged were excessive and violated Section 36(b) of the Investment Company Act of 1940. The action was settled for payment by the defendants to the ING Principal Protection Funds of significant funds and a substantial reduction in investment advisory fees to be charged in the future, which will result in millions of dollars of savings to the funds and their shareholders.