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A US federal court on Friday dismissed a lawsuit against BlackRock that accused the world's largest fund manager of having too much billed investment advisory fees, according to a preliminary order.
Investors in the BlackRock Global Allocation Fund and the BlackRock Equity Dividend Fund commenced a lawsuit in 2014, alleging that the fund manager had charged fees that were significantly higher than those charged by other similar funds.
Judge Freda Wolfson of the US District Court in Trenton, New Jersey, ordered that the full text of the decision be sealed for 30 days, while the parties could file a brief to remove portions of the decision. the order. In the preliminary ruling, the judge "ordered that the plaintiffs' claims be dismissed in their entirety".
BlackRock declined to comment.
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