secwatch.observer — SEC 8-K summary
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Issuer:     Eaton Vance Municipal Income 2028 Term Trust (ETX)
CIK:        0001563696
Form:       8-K
Filed at:   2023-02-01T23:59:59+00:00
Accession:  0000940394-23-000232
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1563696/000094039423000232/0000940394-23-000232-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1563696/000094039423000232/etx8k.htm
  HTML page:      https://secwatch.observer/filing/0000940394-23-000232

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