By Ryan Brizek, Ken Burdon and Alan Turner ( June 23, 2026, 3:42 PM EDT) -- In an important ruling for the registered fund industry, the U.S. Supreme Court on June 11 ruled by a 6-3 majority in FS Credit Opportunities Corp. v. Saba Capital Master Fund Ltd. that Section 47(b) of the Investment Company Act does not provide investors with a private right of action to rescind contracts that allegedly violate the ICA....
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