Eaton Vance California Municipal Income Trust Board Exempts Control Share Acquisitions Following Court Ruling

Eaton Vance California Municipal Income Trust

Board voted to exempt on a going forward basis all prior and new purchases that might be deemed Control Share Acquisitions from the control share by-law.
Decision follows Massachusetts Superior Court ruling on Jan 23, 2023 that the by-law violates Section 18(i) of the Investment Company Act of 1940.
Court granted Saba Capital's claim for rescission of the by-law but found Board had legitimate business reason for adopting it.
Litigation with Saba Capital Master Fund, Ltd. is ongoing in Massachusetts Superior Court.
Exemption applies to 24 Eaton Vance closed-end funds, including CEV, EVM, EOI, EOS, EFT, EVV, and others.

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