Finance case.
Finance Case: Mutual fund giant American Funds  The neutrality of this section is disputed.
Please see the discussion on the talk page. , a unit of Capital
Group Cos., won a court ruling that is expected to kill a California
lawsuit accusing the company of failing to disclose $426 million in fees
to its brokers. A Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Superior Court judge issued a tentative
ruling that said the suit, filed by California Attorney General The California Attorney General is the State Attorney General of the government of the state of California in the USA. The officer's duty is to ensure that "the laws of the state are uniformly and adequately enforced" (California Constitution, Article V, Section 13. Bill
Lockyer, undermined the U.S. National Securities Market Improvements Act
of 1996 by forcing American Funds to divulge information beyond what the
company is required to report to the Securities and Exchange Commission.
Lockyer claimed American Funds investors should know about "revenue
sharing revenue sharing
Funding arrangement in which one government unit grants a portion of its tax income to another government unit. For example, provinces or states may share revenue with local governments, or national governments may share revenue with provinces or states. " payments the company made to dozens of brokers who
recommended its products.
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