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AI brief of an SEC Form 8-K · Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY)

Eaton Vance Tax-Managed Diversified Equity Income Fund waives control share bylaw for purchases

Neutral Impact 3 of 5 shareholder Written later

On January 26, 2023, the fund's Board of Trustees voted to exempt all prior and new purchases of fund shares that might otherwise be deemed Control Share Acquisitions from the fund's control share by-law provisions, until further notice. The move followed a January 23, 2023 Massachusetts Superior Court ruling in litigation brought by Saba Capital Master Fund, which found the control share by-law violates Section 18(i) of the Investment Company Act of 1940.

Key points

  • Board vote dated January 26, 2023 exempts prior and new purchases of fund shares from Article XIII of the By-Laws on a going forward basis.
  • Massachusetts Superior Court ruling on January 23, 2023 held the Control Share By-Law violates Section 18(i) of the Investment Company Act of 1940.
  • The control share by-law was adopted by the Board in August 2020; the litigation is ongoing and appeal decisions are pending.
  • The Board said it will keep monitoring legal developments and may take additional actions in the future.

The filing

CompanyEaton Vance Tax-Managed Diversified Equity Income Fund (ETY)
Form8-K, current report
Filed with the SECFeb 1, 2023, 4:24 PM ET
Accession number0000940394-23-000245

Items reported: 8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 10:08 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 01, 2023.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.