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Lamberth finally threw the Shareholders a "fake" bone(see below):
FMCC common shareholders reward would be "peanuts",in the range of 6 to 9 cents per share. Plaintiffs legal team proposed that jurors would determine shareholders reward amount out of 3 options, but lamberth cancel it.
Not sure how many FMCC common shares would be recognized, but as of today number of Common Shares Outstanding is 650M.
The shareholders suffered damages that can be reasonably estimated to be $1.611 billion in total, broken down as follows:
i. $779 million of damages suffered by private preferred stock shareholders in Fannie
Mae;
ii. $786 million of damages suffered by private preferred stock shareholders in Freddie
Mac; and
iii. $46 million of damages suffered by private common stock shareholders in Freddie
Mac.
This trial is on target to start: 07/24/2023 at 10 AM
Lamberth finally threw the Shareholders a "fake" bone(see below):
FMCC common shareholders reward would be "peanuts",in the range of 6 to 8 cents per share. Plaintiffs legal team proposed that jurors would determine shareholders reward amount out of 3 options, but lamberth cancel it.
Lamberth had to be removed off this case long time ago, and it's a plaintiffs team mistake,
that he is still in charge of this case. Scotus did recognized, that his 2014 decision didn't address shareholders reward, and in 2019 5th circuit decision specified that his 2014 decision was partually incorrect, since it didn't address shareholders reward.
2022 jurors inability to make a decision caused by his trial decisions to limit the information
provided to the jurors. And he is still in charge of this case. My question to the plaintiffs legal team, why they didn't ask for his removal of this case.
And finally, even if shareholders win this case, FMCC common shareholders reward
would be "peanuts",in the range of 6 to 8 cents per share. Plaitiffs legal team proposed that jurors would determine shareholders reward amount out of 3 options, but lamberth cancel it.
Lamberth had to be removed off this case long time ago, and it's a plaintiffs team mistake,
that he is still in charge of this case. Scotus did recognized, that his 2014 decision didn't address shareholders reward, and in 2019 5th circuit decision specified that his 2014 decision was partually incorrect, since it didn't address shareholders reward.
2022 jurors inability to make a decision caused by his trial decisions to limit the information
provided to the jurors. And he is still in charge of this case. My question to the plaintiffs legal team, why they didn't ask for his removal of this case.
It's also FMMC commons court
Your posts either not read by vast majority, or just ignored.
First day up 0.005,next day down 0.005. FNMA/FMCC play game continues.
Investores just ignore FNMA/FMCC,but a group of "so-called" traders continue playing games.
Month after month,year after year, in total 15 years FNMA/FMCC shareholders misery continues. There are no comments from Treasury and FHFA. Lamberth, that made so many mistakes in the past, still in charge. Complete disaster, and it looks it would continue for another few years
FNMA and FMCC history for the 2008-2023 period is a shame,that continues
FNMA is completely ignored by investors: just 732k shares traded
FHFA, Fannie and Freddie filed a reply in support of their of their request to exclude statements by Directors Watt and Calabria from the second trial.And it means, that jurors would be shielded from obtaining of the important information.
I this happened, plaintiffs legal team should no longer participate in the lamberth court.
In 2021 FHFA issued a draft of 2022-2026 business plan to be approved by Treasury.
This business plan included the following item: "Prepare FNMA/FMCC companies to be ready for a release". But the final version of this business plan approved by Treasury,had this item removed off this business plan.
Do You need other evidence,that Treasury manages FHFA
FHFA is managed by Treasury, that makes decisions regarding FNMA/FMCC.
My guess, it could have a minor impact on FNMA/FMCC common PPS. Let's wait and see what would happened.
I've been following this FNMA judge,that throw out FNMA/FMCC case in Qctober 2014.
As of today, he would do something in order to close this case ASAP: he doesn't want another re-trial.
Reward of 6-7 cents per FMCC common share, it's a not a "reward at all". Do You know a lot of shareholders,that would be satisfied with this amount of reward?
it's obvious, what would happen at Lamberth court: FMCC common shareholders
would get a "peanuts" reward approx. 6-7 cents per share. And the case that started in 2014 would be closed.
My guess ,we need to contact Warren Davidson office and ask to set-up an online conference/meeting with Warren Davidson(up to 5 shareholders representatives) and clarify,that shareholders are looking for Treasury/FHFA to include FNMA/FMCC release onto existing FHFA 2022-2026 business plan. It's in-line with his requirement to Treasury to do it.
Just FYI (Lamberth court):
07/18/2023 02:00PM Courtroom 15- In Person Pretrial Conference
The below FHFA attempt needs to be stopped,we need to raise our voice against shielding the jury from must to know information(Lamberth court):
Plaintiffs respectfully request that the Court(Lamberth) DENY Defendants’ Motion in Limine to exclude PX-585, PX-586, PX-587, PX-587-A, PX-588, PX-589, PX-589-A,PX-590, PX-591, and PX-592 stated by the Directors Watt and Calabria from evidence for the second trial. Waiting for Lamberth decision
Lamberth latest news: Shareholders don’t agree with FHFA’s pitch to shield the jury from statements by Directors Watt and Calabria.
Don't forget to mention 2008 crisis,that started it all, but FNMA/FMCC shareholders still pay for someone's mistakes:
The former Federal Reserve chairman, Alan Greenspan, has conceded that the 2008 global financial crisis has exposed a "mistake" which guided his 18-year stewardship of US monetary policy.
Alan Greenspan, admitted to a congressional committee that he had been "partially wrong" in his hands-off approach towards the banking industry and that the credit crunch had left him in a state of shocked disbelief.
As per comment made by Warren Davidson,FNMA /FMCC release is long overdue. And this statement
didn't happened by mistake. Could be a new mindset at the congress, but it would take time
to achieve results, and it would have an impact on the DJT administration(if elected)
The upcoming July 24th court at least would bring some attention to the existing FNMA/FMCC issue. Even the expected shareholders reward amount for the FMCC commons would be peanuts.
Mnuchin and Calabria not neccessary would be part of a new administration. But at least there is some
chance, that FNMA/FMCC to be released. Otherwise, I'm not expecting anything to happened until 2028,when the warrants expire.
There is no updates yet. Last update: on july 18th lamberth pre-trial conference.
Prior to the court, that took place in September of 2022, plaintiffs legal team was trying to include an item,
to ask jurors to determine amount of shareholders reward (out of 3 possible options) .
But lamberth intervened, and cancel it.
This case is already lost: approx. 6 cents per share for the FMCC common shareholders(reward amount estimate). How many FMCC commons shareholders are satisfied with it?
Warrants will be exercised and I expect the SPSPA to convert to common. Common thus have no security. Preferred will be made whole.
This person likes jokes(see above)
Thanks for the clarification,is there a way to get FMCC commons shareholders opinion to be expressed and known by the jurors
Please see my previous responce regarding the amount of the FMCC commons reward.
My understanding, that it's a good question to ask,especially if the jurors would be listening at the pre-trial conference.
Instead of being sarcastic, just think about a question, that could be asked by positiveonstock101. As a sample, what if he would ask why the proposed reward amount is the smallest of all of the possible rewards. And make a statement, that FMCC common shareholders object it, even the plaintiffs legal team agreed on it.
Below please find what we could expect to happened. And it's agreed by both plaintiffs and defendants.
Also take in consideration legal team members fees to be subtracted. Not sure how many FMCC common shares would be recognized, but as of today number of Common Shares Outstanding is 650M.
The shareholders suffered damages that can be reasonably estimated to be $1.611 billion in total, broken down as follows:
i. $779 million of damages suffered by private preferred stock shareholders in Fannie
Mae;
ii. $786 million of damages suffered by private preferred stock shareholders in Freddie
Mac; and
iii. $46 million of damages suffered by private common stock shareholders in Freddie Mac.
Is there anybody, who could attend this Pretrial Conference and ask some questions:
13-cv-1053: FAIRHOLME FUNDS, INC. et al v. FEDERAL HOUSING FINANCE AGENCY, et al Judge Royce C. Lamberth 07/18/2023 02:00PM Courtroom 15- In Person Pretrial Conference
13-mc-1288: IN RE: FANNIE MAE/FREDDIE MAC SENIOR PREFERRED STOCK PURCHASE AGREEMENT CLASS ACTION LITIGATIONS Judge Royce C. Lamberth 07/18/2023 02:00PM Courtroom 15- In Person Pretrial Conference
Just FYI:
The Court made a notation on the docket sheet this afternoon indicating Judge Lamberth will convene a pre-trail conference at 2:00 p.m. on Tues., July 18.
I do not expect any impact of this court on FNMA/FMCC PPS, but let's wait and see what would happened.
A lot depends on us, we need to communicate with congress (Warren Davidson)
and ask to apply pressure om Treasury to include this release item on the 2024 plan.
12-14 months sounds reasonable. Nothing would happened in 2023.
Below please find what we could expect to happened. And it's agreed by both plaintiffs and defendants.
Also take in consideration legal team members fees to be subtracted. Not sure how many FMCC common shares would be recognized, but as of today number of Common Shares Outstanding is 650M.
The shareholders suffered damages that can be reasonably estimated to be $1.611 billion in total, broken down as follows:
i. $779 million of damages suffered by private preferred stock shareholders in Fannie
Mae;
ii. $786 million of damages suffered by private preferred stock shareholders in Freddie
Mac; and
iii. $46 million of damages suffered by private common stock shareholders in Freddie
Mac.
The only path to exit is to force Treasury and FHFA to release FNMA/FMCC.
Contact Warren Davidson and ask him to apply pressure on Treasury.
Ask Warren Davidson office to schedule a meeting with shareholders representatives ASAP.
Clark6290 You are just not familiar with the process of manipulation; just look at the daily trading chart of both stocks. And Its' not only FNMA/FMCC,but also other stocks.
Few years ago, some open sources of info provided details.
FNMA and FMCC PPS being manupulated daily in order to make both of them the same. And it's obvious, that it's done automatically. And we are talking about stocks, that are managed by FHFA, but not a private investor. What a shame.
Please send this message as a letter to Warren Davidson ASAP. Thanks