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AI brief of an SEC Form 8-K · NUVEEN NEW YORK MUNICIPAL INCOME FUND (NNY)

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

Neutral Impact 3 of 5 legal/regulatory Written later

The fund's board adopted an amendment on February 24, 2022, suspending the control share provision of its by-laws. The change followed a February 18, 2022 U.S. District Court summary judgment in favor of Saba Capital Management on claims that the provision violates the Investment Company Act of 1940. The by-law would be automatically reinstated if the court's judgment is reversed, overturned, vacated, stayed or otherwise nullified, and the board intends to appeal.

Key points

  • Board adopted Amendment No. 1 to the by-laws on February 24, 2022, suspending the Control Share By-Law.
  • District Court granted summary judgment to Saba on February 18, 2022, on its claims for rescission and declaratory judgment.
  • The by-law reinstates automatically if the court judgment is reversed, overturned, vacated, stayed or nullified.
  • The board and the funds intend to appeal the District Court's decision.

The filing

CompanyNUVEEN NEW YORK MUNICIPAL INCOME FUND (NNY)
Form8-K, current report
Filed with the SECFeb 25, 2022, 6:49 AM ET
Accession number0001193125-22-053147

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.