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AI brief of an SEC Form 8-K · NUVEEN CALIFORNIA MUNICIPAL INCOME FUND (NCA)

Nuveen California Municipal Value Fund suspends control share by-law after court ruling

Neutral Impact 3 of 5 legal/regulatory Written later

On February 24, 2022, the Board of Trustees amended the fund's by-laws to suspend the control share provision, which limits voting rights for shares acquired in a control share acquisition unless other shareholders approve. The suspension lasts only while a February 18, 2022 U.S. District Court judgment in favor of Saba Capital Management remains in effect, and the provision is automatically reinstated if that judgment is nullified. The Board and the funds intend to appeal the decision.

Key points

  • February 18, 2022: U.S. District Court for the Southern District of New York granted summary judgment in favor of Saba on claims for rescission and declaratory judgment
  • February 24, 2022: Board adopted Amendment No. 1 to the by-laws, suspending the Control Share By-Law
  • The Control Share By-Law reinstates automatically if the judgment is reversed, overturned, vacated, stayed or otherwise nullified
  • The Board and the funds intend to appeal the District Court's decision

The filing

CompanyNUVEEN CALIFORNIA MUNICIPAL INCOME FUND (NCA)
Form8-K, current report
Filed with the SECFeb 25, 2022, 6:40 AM ET
Accession number0001193125-22-053115

Items reported: 7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 8:51 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 25, 2022.

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.