JPMorgan Chase & Co. sued mutual fund firm American Century Cos. over claims it was shortchanged in an $848 million optioned-share sale to Canadian Imperial Bank of Commerce.
Investors seeking peace of mind from target-date funds for their retirement planning may find the biggest risk lies in choosing the money manager.
James E. Stowers Jr., who built a billion-dollar fortune as founder of the American Century Investments mutual fund company, then gave most of it away for medical research, has died. He was 90.
Canadian Imperial Bank of Commerce, the country’s fifth-largest bank, agreed to buy a 41 percent stake in American Century Investments from JPMorgan Chase & Co. for $848 million to expand its asset-management business.
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