Chancery Court Approves $18.8m Settlement In Guggenheim/FMO Litigation

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The Delaware Court of Chancery approved an $18.8 million settlement between stockholders and Guggenheim Funds Investment Advisors LLC and the trustees of a closed-end fund (ticker: FMO), ending litigation arising from $220 million in investment losses. The court also approved a $100,000 incentive award to the named plaintiff, a charitable foundation, for its role in participating in the litigation and bringing about the settlement.

By MoKa

The litigation is J.B. and Margaret Blaugrund Foundation v. Guggenheim Funds Investment Advisors LLC et al., No. 2021-1094 (Del. Ch.). Contact Aaron Morris for additional information.