Court of Appeals for the Fourth Circuit May 1, 2001, No. 00-1420 (Migdal v. Rowe Price-Fleming International, Inc.)

OPINION

WILKINSON, Chief Judge:

Plaintiffs, shareholders of two mutual funds, sued the investment advisers of their funds for breach of fiduciary duty under § 36(b) of the Investment Company Act of 1940, (“ICA”), 15 U.S.C. § 80a-35(b). After twice permitting plaintiffs to amend their complaint, the district court dismissed the action with prejudice.