( June 28, 2024, 2:06 PM EDT) -- NEW YORK — A panel of the Second Circuit U.S. Court of Appeals affirmed a New York federal judge’s decision to grant summary judgment to a hedge fund that owned shares in multiple closed-end funds (CEFs), agreeing with the judge’s finding that the funds violated a section of the Investment Company Act of 1940 (ICA) when they jointly resolved to opt into a provision of the Maryland Control Share Acquisition Act (MCSAA) that would limit the voting rights of the hedge fund....