BROWN v. CALAMOS

No. 10 C 6558.

777 F.Supp.2d 1128 (2011)

Christopher BROWN, individually and on behalf of all others similarly situated, Plaintiff, v. John P. CALAMOS, Sr. Trusted of the Calamos Convertible Opportunities and Income Fund, Weston W. Marsh, Trustee of the Calamos Convertible Opportunities and Income Fund, Joe F. Hanauer, former Trustee of the Calamos Convertible Opportunities and Income Fund, John E. Neal, Trustee of the Calamos Convertible Opportunities and Income Fund, William R. Rybak, Trustee of the Calamos Convertible Opportunities and Income Fund, Stephen B. Timbers, Trustee of the Calamos Convertible Opportunities and Income Fund, David D. Tripple, Trustee of the Calamos Convertible Opportunities and Income Fund, Calamos Advisors, LLC, an investment advisor and Delaware Limited Liability company, Calamos Asset Management, Inc., a Delaware corporation and publicly-held holding company, Calamos Convertible Opportunities and Income Fund, a Delaware statutory trust, and John and Jane Does 1-100, Defendants.

United States District Court, N.D. Illinois, Eastern Division.

March 14, 2011.


Attorney(s) appearing for the Case

Carol V. Gilden , Cohen, Milstein, Sellers & Toll, PLLC, Chicago, IL, Gary A. Gotto , James A. Bloom , Keller Rohrback , PLC, Phoenix, AZ, Joshua S. Devore , Joshua Kolsky , Steven J. Toll , Cohen, Milstein, Sellers & Toll, PLLC, Washington, DC, Lynn Lincoln Sarko , Keller Rohrback , LLP, Seattle, WA, for Plaintiff.

Kevin Bernard Dreher , Michael Frederik Derksen , Morgan, Lewis & Bockius, LLP, John William Rotunno , Molly K. McGinley , Paul J. Walsen , K & L Gates, LLP, Chicago, IL, for Defendants.


MEMORANDUM OPINION AND ORDER

ELAINE E. BUCKLO, District Judge.

Plaintiff Christopher Brown filed this action in Cook County Circuit Court on behalf of a class comprised of common shareholders of the Calamos Convertible Opportunities and Income Fund (the "Fund"). The complaint alleges that defendants breached their fiduciary duty to the Fund's common shareholders, and were unjustly enriched, by causing the Fund to redeem certain preferred shares in...

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