Followers | 293 |
Posts | 4644 |
Boards Moderated | 0 |
Alias Born | 10/12/2008 |
Thursday, August 25, 2016 8:45:52 PM
The judge's decision was based on (1) a broad statutory interpretation of HERA's transfer of rights and powers from stockholders, etc. to the FHFA (Section 4617(b)(2)(A) and (B)) and (2) a somewhat reactionary interpretation of Virginia Code 13-1-771(D)(2) as condemning of Pagliara's purpose for inspecting Freddie Mac's books and records.
District Court Judge James C. Cacheris states in conclusion:
In sum, the Court concludes that Pagliara does not retain the right to inspect corporate records. Even if Pagliara did possess that right, the Court will dismiss the Complaint because Pagliara does not have a proper purpose.
With a different legal presentation of the complaint and its purpose, it is conceivable that there would not have been a dismissal.
Sources:
HERA 2008 - Section 4617(b)(2)(A) and (b)(2)(B)
https://www.law.cornell.edu/uscode/text/12/4617
Virginia Code
https://vacode.org/2016/13.1/9/18/13.1-771/
Pagliara Complaint
http://gselinks.com/Court_Filings/PagliaraVA/2016-03860-0001.pdf
District Court Judge James C. Cacheris Memorandum Opinion
http://gselinks.com/Court_Filings/PagliaraVA/16-00337-0041.pdf
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM