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Tuesday, August 16, 2016 10:46:36 AM
First, the dividends...
In fact, because these are not derivative lawsuits, and cant be right now, any money damages awarded belong solely to the plaintiffs. NOT to F/F. NOT to the Junior Preferred (as you claim). Only to the plaintiffs.
However...Fairholme wont likely win in a lawsuit for restoration of dividends since dividends are never legally expected or relied on for any stock. They are completely discretionary.
So sorry...but expecting dividends from the court are a pipe dream...expecting that somehow, those dividends would be paid to the Junior Preferred is actually quite impossible.
Next the NWS...
The reversal of the NWS is not damages...it is an equitable remedy. If the plaintiffs win, the court will effectively undo the NWS and all its effects.
The effect of the NWS was never to take money out of plaintiffs hands...but to take it from F/F.
So, yes...if the NWS were retroactively undone, the money taken by the Gov would funnel back into F/F.
Sorry...but thats how it works in equitable remedies.
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