Navellier

This appeal follows an Investment Company Act of 1940 (“ICA”) action seeking to impose personal liability on the independent trustees of a mutual fund for the non-renewal of an investment advisory contract. After a fourteen-day trial, the jury determined that the independent trustees acted within their discretion under the business judgment rule in replacing the investment adviser.

Plaintiffs-Appellants are: (1) shareholders and former shareholders of the Navellier Series Fund (“Fund”); (2) the original investment adviser of the Fund, Navellier Management, Inc. (“NMI”); and (3) Louis Navellier, an interested trustee of the Fund (collectively, “appellants”). Defendants-Appellees are: (1) three former independent trustees of the Fund — Donald Simon, Kenneth Sletten, and Lawrence Bianchi (collectively, “independent trustees”); (2) Roy Adams, counsel for the independent trustees; (3) Massachusetts Financial Services (“MFS”), *932 former investment adviser of the Fund; and (4) Arnold Scott, former trustee of the MFS Series Trust (collectively, “ap-pellees”).

Appellants challenge the district court proceedings on numerous grounds, complaining about pre-trial, trial, and post-trial…