Briefly
A state court judge Tuesday finalized his tentative ruling that sided with mutual fund giant American Funds in its legal battle with California Atty. Gen. Bill Lockyer over its sales practices.
Los Angeles Superior Court Judge Carl J. West ruled that federal law preempted the state from suing the firm over allegedly inadequate disclosures of marketing deals with the brokerages that sell its funds. A spokesman for Lockyer said the state would appeal the ruling.
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-- Josh Friedman
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