LITIGATION AND ENFORCEMENT ACTIONS
U.S. District Court Denies Plaintiffs' Motion to Compel
Production of Documents Subject to Attorney-Client Privilege in
Mutual Fund Excessive Fee Litigation
On April 25, 2017, the U.S. District Court for the Northern
District of Illinois issued an order (the Order) denying the
plaintiffs' motion to compel Calamos Investment Trust, a
Massachusetts business trust (the Trust), and its Independent
Trustees to produce certain documents redacted or withheld under
the attorney-client privilege in connection with pending litigation
against Calamos Advisors LLC and Calamos Financial Services LLC
(collectively, Calamos or the Defendants). The plaintiffs,
shareholders of the Calamos Growth Fund, a series of the Trust, who
have alleged that Calamos breached its fiduciary duty under Section
36(b) of the 1940 Act by charging excessive advisory and
distribution fees to the Fund, argued that, although the documents
in question may be subject to
