Citations
- 715 F. Supp. 472
Full opinion text
OPINION
WALKER, District Judge:
Index to the Opinion
Introduction. 475
I. Background. 476
A. The CMA Program. 476
B. Merrill Lynch & Co. and its Affiliates. 478
C. Fees Paid by the Fund and its Shareholders. 478
L The Service Fee.. 479
2. The Advisory Fee. 479
3. The 12b-l Payments. 479
D. The Trustees . 479
L Information Available to the Trustees. 479
2. Consideration of the Advisory Fee .... 481
E. The 12b-l Plan. 482
T. Adoption oI the Plan. 482
2. Continuation of ttuTPlan. 484
II. The Law. 485
III. Findings And Conclusions as to the § 36(b) Claims Introduction — The Fund as a Component of the CMA Program. 00 05
A. Nature and Quality of Services Provided to Shareholders. 00 05
L MLAM’s Services.. 00 -q
2. Shareholder Services. 00 00
B. Profitability to Merrill Lynch from the Fund. 05 00
L Financial Consultants and Rule 12b-l Payments. o 05 TP
2. Monthly Statement, New Account Processing arid Marketing Costs....... CO to
3. Float Costs, Systems Excess Capacity, Imputed Income and Wire and Order Costs....