H.R. 699 · 117th Congress
Mutual Fund Litigation Reform Act
- Stage
- In committee
- Sponsor
- Tom Emmer
- Introduced
- 2021-02-02
- Latest action
- 2021-03-22 · Referred to the Subcommittee on Courts, Intellectual Property, and the Internet.
Summary
Mutual Fund Litigation Reform Act
This bill specifies burden-of-proof and complaint requirements with respect to certain actions for breach of fiduciary duty against an investment adviser. Specifically, complaints must state certain facts with particularity, and a security holder has the burden of proving a breach of fiduciary duty by clear and convincing evidence.