481 F.3d 110 (2nd Cir. 2007), 05-6957, Bellikoff v. Eaton Vance Corp.

Docket Nº:Docket No. 05-6957-cv.
Citation:481 F.3d 110
Party Name:Paul BELLIKOFF, individually and on behalf of all others similarly situated, John B. Perkins, individually and on behalf of all others similarly situated, Stephen R. Alexander and Rita Silvermetz, Plaintiffs-Appellants, Marvin Goldfarb, Phyllis Ann Jaffee Revocable Trust and Igor Lukashevich, individually and on behalf of all others similarly situa
Case Date:March 15, 2007
Court:United States Courts of Appeals, Court of Appeals for the Second Circuit
 
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481 F.3d 110 (2nd Cir. 2007)

Paul BELLIKOFF, individually and on behalf of all others similarly situated, John B. Perkins, individually and on behalf of all others similarly situated, Stephen R. Alexander and Rita Silvermetz, Plaintiffs-Appellants, Marvin Goldfarb, Phyllis Ann Jaffee Revocable Trust and Igor Lukashevich, individually and on behalf of all others similarly situated, Consolidated-Plaintiffs-Appellants,

v.

EATON VANCE CORP., Eaton Vance Management, Boston Management and Research, Lloyd George Investment Management Limited, Jessica M. Bibliowicz, James B. Hawkes, Samuel L. Hayes, III, William H. Park, Ronald A. Pearlman, Norton H. Reamer, Lynn A. Stout, John Does 1-100, Eaton Vance Tax-Managed Small Cap Growth Fund 1., Eaton Vance Tax-Managed Small Cap Growth Fund 1.1, Eaton Vance Tax-Managed Small Cap Growth Fund 1.0, Eaton Vance Tax-Managed Dividend Income Fund, Eaton Vance Tax-Managed Equity Asset Allocation, Eaton Vance Tax-Managed International Growth Fund, Eaton Vance Tax-Managed Mid-Cap Core Fund, Eaton Vance Tax-Managed Multi Cap Opportunity Fund, Eaton Vance Tax-Managed Small Cap Growth Fund 1., Eaton Vance Tax-Managed Small Cap Value Fund, Eaton Vance Tax-Managed Value Fund, Eaton Vance Balanced Fund, Eaton Vance Growth Fund, Eaton Vance Large Cap Core Fund, Eaton Vance Atlanta Cap Large Cap Fund, Eaton Vance Large Cap Value Fund, Eaton Vance Atlanta Cap Small Cap Fund, Eaton Vance Small Cap Growth Fund, Eaton Vance Small Cap Value Fund, Eaton Vance Special Equities Fund, Eaton Vance Utilities Fund, Eaton Vance Asian Small Companies Fund, Eaton Vance Emerging Markets Fund, Eaton Vance Greater China Growth Fund, Eaton Vance Greater India Fund, Eaton Vance Global Growth Fund, Eaton Vance Worldwide Health Science Fund, Eaton Vance Advisors Senior Floating-Rate Fund, Eaton Vance Atlanta Capital Intermediate Bond Fund, Eaton Vance Classic Senior Rate Fund, Eaton Vance Floating Rate Fund, Eaton Vance Floating Rate High Income Fund, Eaton Vance Government Obligations Fund, Eaton Vance High Income Fund, Eaton Vance Income Fund of Boston, Eaton Vance Institutional Senior Floating-Rate Fund, Eaton Vance Low Duration Fund, Eaton Vance Prime Rate Reserves, Eaton Vance Strategic Income Fund, Eaton Vance High Yield Municipals Fund, Eaton Vance Municipals Bond Fund, Eaton Vance National Limited Maturity Municipals, Eaton Vance National Municipals Fund, Eaton Vance Alabama Municipals Fund, Eaton Vance Arizona Municipals Fund, Eaton Vance Arkansas Municipals Fund, Eaton Vance California Limited Maturity Municipals Fund, Eaton Vance California Municipals Fund, Eaton Vance Colorado Municipals Fund, Eaton Vance Connecticut Municipals Fund, Eaton Vance Florida Insured Municipals Fund, Eaton Vance Florida Limited Maturity Municipals Fund, Eaton Vance Florida Municipals Fund, Eaton Vance Georgia Municipals Fund, Eaton Vance Hawaii Municipals Fund, Eaton Vance Kansas Municipals Fund, Eaton Vance Kentucky Municipals Fund, Eaton Vance Louisiana Municipals Fund, Eaton Vance Maryland Municipals Fund, Eaton Vance Massachusetts Fund, Eaton Vance Massachusetts Limited Maturity Municipals Fund, Eaton Vance Michigan Municipals Fund, Eaton Vance Minnesota Municipals Fund, Eaton Vance Mississippi Municipals Fund, Eaton Vance Missouri Municipals Fund, Eaton Vance New Jersey Limited Maturity Municipals Fund, Eaton Vance New Jersey Municipals Fund, Eaton Vance New York Limited Maturity Municipals Fund, Eaton Vance New York Municipals Fund, Eaton Vance North Carolina Municipals Fund, Eaton Vance Ohio Limited Maturity Municipals Fund, Eaton Vance Ohio Municipals Fund, Eaton Vance Oregon Municipals Fund, Eaton Vance Pennsylvania Limited Maturity Municipals Fund, Eaton Vance Pennsylvania Municipals Fund, Eaton Vance Rhode Island Municipals Fund, Eaton Vance South Carolina Municipals Fund, Eaton Vance Tennessee Municipals Fund, Eaton Vance Virginia Municipals Fund, Eaton Vance West Virginia Municipals Fund, Orbimed Advisors, LLC, Jack L. Treynor, Donald Dwight, Edward Smiley, Payson F. Swaffield, Michael W. Weilheimer, Scott Page, Detective William Ahern, Duncan W. Richardson, Robert B. Macintosh, Cynthia A. Clemson, Judith Saryan, Michael R. Mach, Thomas J. Fetter, Thomas E. Faust, Eaton Vance Distributors, Inc. and Eaton Vance, Inc., Defendants-Appellees.

Docket No. 05-6957-cv.

United States Court of Appeals, Second Circuit.

March 15, 2007

Argued: Nov. 20, 2006.

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Jerome M. Congress, Milberg Weiss Bershad & Schulman LLP, New York, NY,(Janine L. Pollack on the brief), for Plaintiffs-Appellants.

Charles Lee Eisen, Kirkpatrick & Lockhart Nicholson Graham LLP, Washington, D.C., (Jeffrey B. Maletta, Nicholas G. Terris, and Shanda N. Hastings on the brief), for Defendants-Appellees.

Before McLAUGHLIN, HALL, Circuit Judges, and GLEESON, District Judge. [*]

PER CURIAM.

Plaintiffs in this case are a group of investors in various Eaton Vance mutual funds. They brought this putative class action in the United States District Court for the Southern District of New York (Koeltl, J.) to recover for wrongs they allege to have suffered at the hands of the

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Eaton Vance corporate empire and several affiliated entities.

The vehicle chosen to right these perceived wrongs was the Investment Company Act of 1940 (the "ICA"), which, for all of its protections, does little for the plaintiffs in this case. On appeal, we are principally concerned with whether there are implied private rights of action under sections 34(b), 36(a), and 48(a) of the ICA. We hold that there are not.

BACKGROUND

This appeal arises from the dismissal of a putative class action suit brought against Eaton...

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