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Article: Mutual fund giant Fidelity fights ruling over board leadership.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- December 3, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Boston Globe Knight Ridder/Tribune Business News
Dec. 3--In June, when the nation's top securities regulators ruled that every mutual fund board should have an independent chairman, Fidelity Investments said it would "adapt" to the decision, however unhappily.
But six months later, the Boston mutual fund giant has yet to give up the fight.
In defiance of the US Securities and Exchange Commission, Fidelity chief executive Edward C. Johnson 3d continues to wage a lonely battle with the help of a New Hampshire lawmaker who counts Fidelity employees among his largest contributors. Seeking to undo a rule that would remove Johnson as ...