NUVEEN CALIFORNIA AMT-FREE QUALITY MUNICIPAL INCOME FUND (NKX)
NKX 8-K filings in 2022
Every material Form 8-K NUVEEN CALIFORNIA AMT-FREE QUALITY MUNICIPAL INCOME FUND filed with the SEC in 2022, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
On February 24, 2022, the fund's board adopted an amendment to its by-laws that suspends the control share by-law, which would have limited voting rights for shareholders who acquire large stakes, after a U.S. District Court granted summary judgment to Saba Capital on February 18, 2022. The control share provision will automatically reinstate if the court's judgment is reversed, overturned, vacated, stayed or otherwise nullified, and the board intends to appeal the ruling.
Board adopted Amendment No. 1 to the by-laws on February 24, 2022, suspending the Control Share By-Law.
The suspension stems from a February 18, 2022 summary judgment in favor of Saba Capital Management on claims that the by-law violates Section 18(i) of the Investment Company Act of 1940.
The by-law would be reinstated if the District Court judgment is reversed, overturned, vacated, stayed or otherwise nullified.
The board and the fund intend to appeal the District Court's decision.
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