Bulldog Investors, LLC ("Bulldog") today announced that it expects to sue BrandywineGLOBAL-Global Income Opportunities Fund (NYSE: BWG) to challenge the validity of a new management agreement with Legg Mason Partners Fund Advisor, LLC. Shareholders were required to approve the agreement at a special meeting to be held on June 5, 2020. That meeting was postponed twice, first to June 16, 2020, and then to July 6, 2020 despite the likelihood that a quorum would have been present on June 5th.
Phillip Goldstein, a managing member of Bulldog, commented: "We believe those postponements are improper and that management’s reason for not holding the meeting as originally scheduled is that it feared that shareholders might not approve the new management agreement on that date. If so, any purported approval by shareholders of the agreement after June 5th is invalid."
About Bulldog Investors
Bulldog Investors LLC is an SEC-registered investment adviser that manages Special Opportunities Fund, Inc. (NYSE:SPE), a registered closed-end investment company, and separately managed accounts.
John Glenn Grau, (203) 972-9300 ext. 110