Reuters published the news brief, "Fidelity beats lawsuit over fees in US$​439 billion money market fund." The piece explains, "A U.​S. federal judge dismissed a lawsuit on Wednesday accusing mutual fund giant Fidelity of cheating many investors in its US$​439.​1 billion Fidelity Government Money Market Fund by keeping them in higher-​cost share classes than they were eligible for. U.​S. District Judge Margaret Garnett in Manhattan rejected claims that Fidelity unjustly enriched itself, and the fund'​s board and investment managers breached their fiduciary duties, by failing to automatically convert '​retail class' shares into lower-​cost '​premium class' shares once balances hit $​100,​000 in non-​retirement accounts or $​10,​000 in retirement accounts." Reuters comments, "Retail investors said Boston-​based Fidelity shortchanged them out of millions of dollars by continuing to charge fees and expenses of up to 0.​42 percent on their investments, rather than up to 0.​32 percent on the premium class shares. Garnett, however, said Fidelity fully disclosed the economic consequences of converting or not converting shares. She also said investors neither showed that Fidelity'​s disclosures regarding conversions were misleading nor disputed they could readily convert their shares on their own."

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