Nowell D. Bamberger, Tom Bednar, John Mahon, Jennifer Kennedy Park and Rishi N. Zutshi

Cleary Gottlieb Discusses Supreme Court Ruling on Right of Action Under Investment Company Act

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On June 11, 2026, the U.S. Supreme Court issued its ruling in FS Credit Opportunities Corp. v. Saba Capital Master Fund, Ltd., holding that Section 47(b) of the Investment Company Act (the ICA) does not provide an implied private …