Calamos Investments Statement On ARPS Lawsuit For Convertible And High Income Fund (NYSE: CHY)
NAPERVILLE, Ill., Aug. 17 /PRNewswire-FirstCall/ -- Calamos Investments announced that a law firm has filed a putative class action lawsuit purportedly filed on behalf of an asserted class of common shareholders of Calamos Convertible and High Income Fund (NYSE: CHY), alleging breach of fiduciary duty, aiding and abetting breach of fiduciary duty and unjust enrichment in connection with the redemption of auction rate preferred securities by CHY following the collapse of auction markets in February 2008. The named defendants include CHY itself, the current and former trustees of CHY, Calamos Advisors LLC and Calamos Asset Management, Inc. Calamos Advisors and Calamos Asset Management believe that the lawsuit is without merit and intend to defend themselves vigorously against these charges.
Calamos Investments is a globally diversified investment firm offering equity, fixed-income, convertible and alternative investment strategies, among others. The firm serves institutions and individuals around the world via separately managed accounts and a family of open-end and closed- end funds, providing a risk-managed approach to capital appreciation and income-producing strategies. For more information, visit www.calamos.com.
SOURCE Calamos Investments
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV