Logourl black

Jones v. Harris Associates L.P.

United States Court of Appeals for the Seventh Circuit
527 F.3d 627 (7th Cir. 2008)


Facts

Harris Associates L.P. (Harris) (defendant) advised Oakmark on the maintenance of Oakmark’s mutual funds. The funds grew over the course of a couple of years and Harris’s compensation for its advice grew at the same rate. The compensation was roughly the same as other similarly situated funds pay their advisors. Oakmark shareholders (plaintiffs) brought suit alleging that the compensation became too high, in breach of Harris’s fiduciary duty to its client. The district court granted Harris’s motion for summary judgment. The plaintiffs appealed.

Rule of Law

The rule of law is the black letter law upon which the court rested its decision. To access this section, start your 7-day free trial of Quimbee for Law Students.

Issue

The issue section includes the dispositive legal issue in the case phrased as a question. To access this section, start your 7-day free trial of Quimbee for Law Students.

Holding and Reasoning (Easterbrook, J.)

The holding and reasoning section includes:

  • A “yes” or “no” answer to the question framed in the issue section;
  • A summary of the majority or plurality opinion, using the CREAC method; and
  • The procedural disposition (e.g. reversed and remanded, affirmed, etc.).

To access this section, start your 7-day free trial of Quimbee for Law Students.

Here's why 72,000 law students rely on our case briefs:

  • Reliable - written by law professors and practitioners not other law students.
  • The right length and amount of information - includes the facts, issue, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your class - works on your mobile and tablet.
  • 10,385 briefs - keyed to 134 casebooks.
  • Uniform format for every case brief.
  • Written in plain English - not in legalese and not just repeating the court's language.
  • Massive library of related video lessons - and practice questions.
  • Ability to tag case briefs in an outlining tool.
  • Top-notch customer support.
Start Your Free Trial Now