Phillip Goldstein, the hedge fund manager and self-professed shareholder activist and partner of Bulldog Investors of Pleasantville, N.Y., is set to duke it out again with the Securities and Exchange Commission in a battle that could eventually lead all the way to the Supreme Court.

Goldstein prevailed this past June in a high-profile lawsuit that challenged the regulator's hedge fund manager registration rule that took effect this past February. A court of appeals in Washington sided with Goldstein and vacated the SEC-promulgated rule requiring hedge fund managers to register with the SEC and follow compliance procedures.

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