Calamos Convertible Opportunities and Income Fund

Keller Rohrback represents individuals who were the beneficial owners of common shares of the Calamos Convertible Opportunities and Income Fund (the “Fund”) at any time from March 19, 2008 through the present (the “Class Period”). In addition to issuing the common stock held by Plaintiff and the Class, the Fund issued auction market preferred shares (“AMPS”). The AMPS provided the Fund with long-term financing at short-term interest rates.

Plaintiff’s class action complaint, which was filed in the United States District Court for the Northern District of Illinois, alleges that during the Class Period, Defendants breached their fiduciary duties by: (i) unfairly favoring the preferred AMPS shareholders over the common shareholders by enabling the former to redeem their shares at their share of net asset value, at the expense of the common shareholders; (ii) causing one group of shareholders to receive a benefit to which they were not entitled at the expense of another group of shareholders; and (iii) causing the Fund to partially redeem the AMPS and replace it with unfavorable debt financing, thus eliminating one of the major benefits of the investment. Additionally, the complaint alleges that certain Defendants aided and abetted a breach of fiduciary duty and that certain Defendants were unjustly enriched as a result of these actions.

If you wish to discuss this action or have any questions, please contact attorneys James Bloom, Gary Gotto or Lynn Sarko toll-free at (800) 776-6044 or via email at investor@kellerrohrback.com