In a long-anticipated ruling, Fidelity Investments Charitable Gift Fund has been found not liable to the donors to a donor advised fund who claimed that they were damaged significantly when Fidelity sold all 1.9 million donated shares of a thinly-traded company in the last 2.5 hours of trading of the last day of trading in December 2017. A magistrate judge in a Federal District Court in California has dismissed all of the donors’ claims. Malcolm and Emily Fairbairn founded a hedge fund where they managed over $3 billion. In 2017, because of a change in the tax law, they recognized about $250 million of off-shore income and decided to make a large charitable contribution to offset some of...