A donor to a donor advised fund has no standing to complain that the fund sponsor breached its fiduciary duty by not obtaining the best possible brokerage and custodial fees for the Fund’s assets, a Magistrate Judge in California has ruled. The Court ruled that the donor gave “exclusive legal control” to Schwab Charitable Fund and has no suffered no legal injury that could be redressed by the litigation. Philip Pinkert filed suit on behalf of himself and “all others similarly situated.” He sued Schwab Charitable Fund, a separate sponsor of donor advised funds, its board of directors and investment-oversight committee, and Charles Schwab & Co., which Schwab Charitable used for brokerage...