Saba Capital Management LP has asked a federal court to enforce its recent ruling canceling a shareholder rights plan, saying the closed-end fund that used the plan to limit Saba’s control just readopted it.
Judge Jessica G. L. Clarke on Tuesday granted Saba’s request for expedited briefing between it and ASA Gold & Precious Metals Ltd. on the readoption issue. The case, pending in the US District Court for the Southern District of New York, is one of several battles involving activist investor Saba and the closed-end funds it’s targeted for disruption.
Clarke’s ruling last week, “notwithstanding the outcome, is ...
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