Nuveen CEFs suspend control share by-law after losing court case; appeal planned

Nuveen Credit Strategies Income Fund

Board suspends Control Share By-Law that limited voting rights of large shareholders.
Action follows Feb. 18, 2022 District Court summary judgment in favor of Saba Capital.
Control Share By-Law will be automatically reinstated if the judgment is reversed on appeal.
Board and Funds intend to appeal the District Court's ruling.
Chair Toth says by-law protected against 'predatory attacks' by hedge funds.

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