09:07 AM EDT, 07/01/2024 (MT Newswires) -- Saba Capital Management on Monday accused BlackRock ( BLK ) of conducting rigged elections after Blackrock ( BLK ) reported shareholders' votes in favour of retaining its directors and management for four closed-end funds on Friday.

The company said BlackRock ( BLK ) misled stakeholders by announcing results that excluded Saba's votes and those of other supportive shareholders.

Saba Capital Management, a large owner in BlackRock's ( BLK ) closed-end funds, said it plans to hold BlackRock ( BLK ) accountable in court for its continued flouting of federal law.

"BlackRock's ( BLK ) flagrant disregard for the truth and its investors is unacceptable", said Boaz Weinstein, Founder and Chief Investment Officer of Saba.

BlackRock ( BLK ) had not immediately responded to MT Newswires' request for comment.

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