---
schema_version: "secwatch.filing_event.v1"
accession: "0000940394-23-000232"
form_type: "8-K"
ticker: "ETX"
cik: "0001563696"
company_name: "Eaton Vance Municipal Income 2028 Term Trust"
filed_at: "2023-02-01T23:59:59+00:00"
generated_at: "2026-06-20T03:44:54.531846+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Eaton Vance closed-end funds exempt control share acquisitions after court ruling

## Summary
- Board voted Jan 26, 2023, to exempt all prior and new purchases from control share by-law until further notice.
- Massachusetts Superior Court on Jan 23, 2023, partially granted summary judgment; found by-law violates Investment Company Act §18(i).
- Court upheld board's legitimate business reason for by-law adoption in August 2020 to protect retail shareholders from activist hedge funds.
- Litigation with Saba Capital is ongoing; appeal decisions deferred until remaining issues are litigated.
- Exemption applies to 23 Eaton Vance closed-end funds, including ETX, EFR, EFT, EVV, and others.

## SEC filing metadata
- accession: 0000940394-23-000232
- form_type: 8-K
- ticker: ETX
- cik: 0001563696
- company_name: Eaton Vance Municipal Income 2028 Term Trust
- filed_at: 2023-02-01T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1563696/000094039423000232/0000940394-23-000232-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1563696/000094039423000232/etx8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000940394-23-000232
- JSON: https://secwatch.observer/filing/0000940394-23-000232.json
- Plain text: https://secwatch.observer/filing/0000940394-23-000232.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.