Fannie Mae-No Politics (FNMA)

[contrarian bull]

Another very interesting new lawsuit filed:
MICHAEL ROP, STEWART KNOEPP, and ALVIN WILSON, Plaintiffs,

This is looking very interesting! I've only read the first 20 pages so far, but I like where this suit is going. It's not challenging the actions under HERA, but is challenging the constitutionality of HERA in the first place. Which is basically what prior judges said shareholders needed to do.

And the plaintiff is the named plaintiffs, but it also says
"This policy has inflicted severe economic harm on Plaintiffs and the Companies’ other private shareholders".

It's nice to see "other shareholders" mentioned.


And I like the mention of "the offer you can't refuse":

Given that the Companies were not in financial distress and were in no danger of defaulting on their debts, the Companies’ directors were confronted with a Hobson’s choice"

Of course it'll take another 10 years to go through the courts - and while common shareholders are mentioned - this is not a class action suit and I don't believe other shareholders have the right to join it... but still - I like the direction it's going.