other material
confidence high
sentiment neutral
materiality 0.40
Eaton Vance closed-end fund board exempts share purchases from control share by-law after court ruling
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund
- Board voted to exempt all prior and new purchases from Control Share By-Law on a going-forward basis, effective immediately.
- Decision follows Massachusetts Superior Court ruling that the by-law violates Section 18(i) of the Investment Company Act.
- Court granted partial summary judgment; litigation continues on remaining issues (funds EVF, EFR, EFT, EVV).
- Exemption applies to 22 Eaton Vance closed-end funds listed in the announcement, including ETW.