First Trust Sued For Denying Activist’s Trustee Nominees (Law360)

Covered by Law360

Bulldog Investors LLP, and two investment funds, have sued First Trust Advisors LP and the board of trustees of the First Trust Dynamic Europe Equity Income Fund (Ticker: FDEU) for unlawfully rejecting two trustee nominees who ran on a platform of improving FDEU’s long-term underperformance and trading discount. The trustee nominees garnered sufficient votes for election, but Bulldog boycotted FDEU’s annual meeting after First Trust announced that it would not count any votes in favor of the nominees. The suit also seeks rescission of FDEU’s illegal defensive bylaws, which First Trust utilized to exclude “control share” votes in connection with the annual meeting.

By MoKa

Morris Kandinov LLP represents the plaintiffs in the case. Contact Aaron Morris for additional information.