BUSINESS

Vanguard Group shareholders suing wrong people (again)

TAGs: shareholder lawsuit

BarkingUpTreeThe Vanguard Group investment management firm is being sued in Delaware state court by investors who claim that fund managers acted irresponsibly by investing in online gambling companies whose value plummeted after passage of the UIGEA in 2006. The same plaintiffs had a suit tossed out of federal court in 2009, when the judge rightly pointed out that the damage was inflicted on the share values by the actions of the government, not the decisions of the fund managers. Seriously, plaintiff dudes, we understand your frustration, but you’re barking up the wrong tree, here. Read more.

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