Commonwealth Still Fighting $111.5M SEC Suit Over Mutual Fund Fees

What You Need To Know

• The lawsuit dates back to the SEC's 2019 crackdown on firms' widespread failures to disclose 12b-1 fees and other revenue-sharing arrangements.
• The SEC sued Commonwealth for failing to disclose that it was pushing share classes on which it collected revenue-sharing payments while cheaper share classes were avaiable.
• Commonwealth argues that failures on the SEC's part, and an alternate theory of damages, call for a smaller fine.