SCOTUS Delivers Win for Investment Funds, Rejects Activist Lawsuits Under Securities Law

by FS Credit Opportunities and affiliates of BlackRock.

Saba challenged board-adopted resolutions opting into Maryland’s Control Share Acquisition Act, which limits voting power for large shareholders to prevent hostile takeovers.

Saba claimed these provisions violated the ICA’s equal voting rights requirement under Section 18(i) and sought rescission continue reading …