regulatory
confidence high
sentiment neutral
materiality 0.55
Eaton Vance closed-end funds exempt Control Share Acquisitions after MA court ruling
Eaton Vance Short Duration Diversified Income Fund
- MA Superior Court ruled that Control Share By-Law violates Section 18(i) of the 1940 Act.
- Board voted to exempt all prior and new purchases from Control Share By-Law until further notice.
- Litigation with Saba Capital Master Fund ongoing; four funds (EVF, EFR, EFT, EVV) are parties.
- Exemption applies to 23 Eaton Vance closed-end funds including EVG, EOI, EOS, EVV, and others.
- Board will monitor legal developments and may take further actions as appropriate.