Crews & Associates Inc v. Nuveen High Yield Municipal Bond Fund et al
ORDER denying motion to dismiss the declaratory judgment action 46 . Signed by Judge Brian S. Miller on 6/28/11. (kpr)
IN THE UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF ARKANSAS
CREWS & ASSOCIATES, INC.
Case No. 4:10-cv-1098 BSM
NUVEEN HIGH YIELD MUNICIPAL BOND FUND et al.
Nuveen High Yield Municipal Bond Fund (“Nuveen”) moves [Doc. No. 46] to
dismiss the declaratory judgment action based on an unconditional covenant not to assert a
claim under Section 10b of the Securities Exchange Act of 1934. Crews & Associates
(“Crews”) objects stating that the covenant is not a final judicially enforceable agreement.
The motion is DENIED.
The order [Doc. No. 36] entered on March 29, 2011, declined to dismiss the claim
without a judicially binding agreement on the issue. The current unilateral promise does not
represent a judicially binding agreement between the parties. As such, Nuveen is still entitled
to pursue declaratory judgment on the Section 10b claims, and the motion to dismiss [Doc.
No. 46] is DENIED.
IT IS SO ORDERED this 28th day of June 2011.
UNITED STATES DISTRICT JUDGE
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