Fannie Mae-No Politics (FNMA)

[kingu1ysnmbr1]

Judge Jackson deals serious blow to Fairholme and Ackman

https://ecf.dcd.uscourts.gov/cgi-bin/show_public_doc?2013cv0206-45

The Court finds that this case does not present a conflict of interest sufficient to justify an exception to HERA's command that only Fannie Mae's Conservator may bring suit on Fannie Mae's behalf. Therefore, the Court will grant the Conservator's motion to substitute for plaintiff in this case.

John Carney
Federal judge Amy Jackson just ruled $FNMA shareholder cannot sue Treasury in a derivative action b/c FHFA has shareholder's rights. Major blow.