Insights From the Winning Team: A Debrief on the FS Credit Opportunities Corp. Ruling and Its Implications

On June 16, Skadden hosted the webinar “Insights From the Winning Team: A Debrief on the FS Credit Opportunities Corp. Ruling and Its Implications” on why the U.S. Supreme Court’s June 11 decision in FS Credit Opportunities Corp. v. Saba Capital Master Fund, Ltd. is significant and what it means for registered funds. In this case argued by Skadden attorneys on behalf of FS Credit Opportunities Corp., the Court held that Section 47(b) of the Investment Company Act (ICA) does not create a private right of action for shareholders to sue ICA registered funds for recission. Speakers included Supreme Court and appellate head Shay Dvoretzky and partner Parker Rider-Longmaid, Boston litigation partner Eben Colby, Chicago investment management partner Kevin Hardy and Boston litigation counsel Marley Ann Brumme.