Every material Form 8-K SPECIAL OPPORTUNITIES FUND, INC. has filed with the SEC since December 14, 2011, 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.
Special Opportunities Fund, Bulldog Investors LLP and High Income Securities Fund filed a lawsuit in the U.S. District Court for the District of Massachusetts over the April 3, 2023 annual meeting of First Trust Dynamic Europe Equity Income Fund (FDEU). The action seeks to enforce votes for the Fund's nominees to FDEU's Board of Trustees, which the plaintiffs say the incumbent board improperly refused to count. The filing discloses the litigation but does not give a financial result for the Fund.
The press release announcing the lawsuit is dated May 11, 2023 and is attached as Exhibit 99.1.
The lawsuit seeks a declaration that the Fund's nominees received a majority of the votes that would have been cast but for the incumbent board's refusal to count them.
The lawsuit also asks the court to declare FDEU's control share bylaw, which limits voting rights beyond certain ownership thresholds, invalid under the Investment Company Act of 1940.
The fund sent a December 2, 2019 letter asking the SEC Division of Investment Management whether proposed bylaws on share ownership limits, majority voting for directors and continuing directors would violate the Investment Company Act of 1940. The Board has not adopted any of the proposed bylaws and says it will consider the staff's determination before acting, so no change to shareholder rights has taken effect.
Letter dated December 2, 2019 to the SEC Division of Investment Management, filed under Regulation FD on December 3, 2019
Three proposed bylaws: a share ownership limitation, a majority voting requirement for director election, and a continuing director bylaw
The Board has taken no action to adopt the proposed bylaws and will await the staff's determination
Special Opportunities Fund (SPE) asked the Securities and Exchange Commission on December 13, 2011 for a declaratory order confirming that its new proxy voting procedure will not violate Section 12(d)(1) of the Investment Company Act of 1940. The fund's SEC staff had indicated it disagreed with the board's reading of the "seek instructions" option, so the board sought a ruling before implementing the procedure, which shareholders approved on December 7, 2011.
Shareholders approved the "seek instructions" proposal at the December 8, 2011 annual meeting: 3,116,846 for, 45,200 against, 37,028 abstain
Shareholders casting 98.57% of votes cast for or against supported the proposal
The board intends to implement the procedure on March 1, 2012 and requests an SEC order before that date
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.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every SPECIAL OPPORTUNITIES FUND, INC. filing is on SEC EDGAR ↗. 8-K briefs of other companies →