Business & Finance
Fri, January 21, 2011Thu, January 20, 2011Wed, January 19, 2011Tue, January 18, 2011Mon, January 17, 2011Fri, January 14, 2011Thu, January 13, 2011Wed, January 12, 2011Tue, January 11, 2011Mon, January 10, 2011Sat, January 8, 2011Fri, January 7, 2011Invesco Announces Notice of Pendency Available for Shareholders of Invesco High Yield Investments Fund, Inc.
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Published in Business and Finance on Friday, January 14th 2011 at 11:45 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
HOUSTON--([ BUSINESS WIRE ])--Invesco announced today that a Notice of Pendency of Derivative Action and Hearing on Proposed Settlement (the aNoticea) is available for viewing by shareholders of Invesco High Yield Investments Fund, Inc. (NYSE: MSY) (the aFunda) at [ www.invesco.com/noticeofpendency ]. This Notice describes a proposed settlement of a lawsuit commenced by shareholder Deborah Donoghue against defendants Bulldog Investors General Partnership (aBulldoga) and Philip Goldstein.
The action seeks recovery on behalf of the Fund of so-called ashort swinga profits for trades by Bulldog and/or Goldstein under Section 16(b) of the Securities Exchange Act of 1934. Section 16(b) provides, among other things, for the recovery by an issuer from a beneficial owner of 10% or more of a class of equity securities who realizes profits from purchases and sales of such securities within a six-month period.
The Notice describes a proposed settlement of the above-described lawsuit under which, among other things, Bulldog would pay $85,491 to the Fund, and the plaintiffa™s counsel will submit an application to the Court for attorneya™s fees after any appeal filed by Bulldog. The Notice advises shareholders that the Court has scheduled a Settlement Fairness Hearing for February 25, 2011, at 12 noon EST, in Courtroom 11B of the United States Courthouse, 500 Pearl Street, New York, NY 10007. Shareholders proposing to raise comments or objections at the February 25th hearing must so advise the Court and plaintiffa™s counsel in a writing mailed by February 11, 2011.
Shareholders should review the attached notice for further details concerning the settlement and the hearing.
Investing involves risk and it is possible to lose money on any investment in the funds.
About Invesco
Invesco is a leading independent global investment manager, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our retail, institutional and high net worth clients around the world. Operating in 20 countries, the company is listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at [ www.invesco.com ].
Invesco Advisers, Inc. is an investment adviser; it provides investment advisory services to individual and institutional clients and does not sell securities. Invesco Distributors, Inc. is the U.S. distributor for Invesco Ltd.a™s retail mutual funds, exchange-traded funds and institutional money market funds and the subdistributor for its STIC Global Funds. Both are wholly owned, indirect subsidiaries of Invesco Ltd.
a"Invescoa"
