---
schema_version: "secwatch.filing_event.v1"
accession: "0001999371-25-003481"
form_type: "8-K"
ticker: "ASA"
cik: "0001230869"
company_name: "ASA Gold & Precious Metals Ltd"
filed_at: "2025-03-31T23:59:59+00:00"
generated_at: "2026-05-24T01:33:04.565626+00:00"
event_type: "litigation"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Court orders ASA Gold to rescind December 2024 shareholder rights plan for violating 120-day expiration rule

## Summary
- SDNY grants summary judgment to Saba Capital; ASA's December 2024 rights plan violated ICA Section 18(d).
- Court found successive substantively identical rights plans never expired, breaching the 120-day limit.
- ASA's rights plan, adopted Dec 2024, was set to expire Apr 2025; now rescinded immediately.
- Saba had accumulated 16.87% of ASA shares; court noted rights plan targeted Saba's creeping control.
- Remedy: rescission of the plan; ASA may not adopt similar plans that circumvent 120-day rule.

## SEC filing metadata
- accession: 0001999371-25-003481
- form_type: 8-K
- ticker: ASA
- cik: 0001230869
- company_name: ASA Gold & Precious Metals Ltd
- filed_at: 2025-03-31T23:59:59+00:00
- event_type: litigation
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1230869/000199937125003481/0001999371-25-003481-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1230869/000199937125003481/asa-8k_032825.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001999371-25-003481
- JSON: https://secwatch.observer/filing/0001999371-25-003481.json
- Plain text: https://secwatch.observer/filing/0001999371-25-003481.txt

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