The U.S. Supreme Court overturned an appeals court ruling in the Jones v. Harris Associates excessive mutual fund fee case Tuesday and asked the trial court to reconsider the case.

A Chicago federal appeals court had rejected the case on grounds that such suits can only be heard when they involve fraud. The Supreme Court essentially ruled that this decision was made on the wrong grounds.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.