summary
Introduced
01/08/2018
01/08/2018
In Committee
01/18/2018
01/18/2018
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
Mutual Fund Litigation Reform Act This bill amends the Investment Company Act of 1940 to specify burden-of-proof and complaint requirements with respect to certain actions for breach of fiduciary duty.
AI Summary
This bill, the Mutual Fund Litigation Reform Act, amends the Investment Company Act of 1940 to specify burden-of-proof and complaint requirements for certain actions alleging a breach of fiduciary duty. Specifically, the bill requires that a complaint in such an action state with particularity all facts establishing the breach of fiduciary duty and that the security holder bringing the action have the burden of proving the breach by clear and convincing evidence.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Placed on the Union Calendar, Calendar No. 509. (on 05/07/2018)
Official Document
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bill summary
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bill summary
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