Crews & Associates Inc v. Nuveen High Yield Municipal Bond Fund et al

Filing 52

AMENDED ORDER 49 denying 41 MOTION to Dismiss. Signed by Judge Brian S. Miller on 6/30/11. (kpr)

IN THE UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF ARKANSAS
WESTERN DIVISION
CREWS & ASSOCIATES, INC.
v.

PLAINTIFF

Case No. 4:10-cv-1098 BSM

NUVEEN HIGH YIELD MUNICIPAL BOND FUND et al.

DEFENDANT

AMENDED ORDER
Nuveen High Yield Municipal Bond Fund (“Nuveen”) moves [Doc. No. 41] 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. 41] is DENIED.
IT IS SO ORDERED this 30th day of June 2011.

________________________________
UNITED STATES DISTRICT JUDGE