Because Kennedy called him a liar
This was explained in further detail yesterday and when you understand the specifics of the case it is a total non-sequiter. Besides the relevant points about mutual funds & the distinction between them and holding stocks in an individual company or Vanguard itself - The fact is that while Vanguard was listed as a defendant in the case they had no real standing in the outcome. The case involved two litigants disputing over whom and how funds that Vanguard held were to be dispursed. Vanguard didn't care whether they paid plaintiff or defendant or whomever / whatever else. They were simply going to be directed by the judgment to pay (a) or (b). The case in no way involved Vanguard proper!