WINTER, Circuit Judge:
This case involves a challenge to a money market mutual fund distribution plan on the grounds, inter alia, that it violates several provisions of the Investment Company Act of 1940, 15 U.S.C. § 80a-1 et seq. (1988) ("the 1940 Act" or "the Act"). The plan was adopted under Rule 12b-1, 17 C.F.R. § 270.12b-1 (1989), promulgated in 1980 by the Securities and Exchange Commission. Plaintiff-appellant Richard Meyer contends that the directors...
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