High Court Case Tops List of Securities Appeals To Watch

Kelley Howes spoke to Law360 about an upcoming Supreme Court case between four closed-end funds and activist investor Saba Capital, in which the high court will determine whether private parties can sue to rescind contracts under the Investment Company Act (ICA) after the Second Circuit ruled in Saba's favor.

Kelley said, "The question has implications not just for the mutual funds, exchange-traded funds and others that fall under the ICA's definition of an investment fund, but also for companies that may unintentionally 'trip over' the definition due to the types of assets they hold."

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