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Fannie Mae & Freddie Mac Litigation, FNMA, FMCC

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ano   Tuesday, 05/19/20 10:00:04 AM
Re: ano post# 604895
Post # of 613565 
Fannie Mae & Freddie Mac Litigation, FNMA, FMCC updated May 19, 2020

19-422 Patrick J Collins v. Mnuchin (Pending petition SCOTUS) .…Common & Preferred, Derivative
Claim: “for cause” separation of powers §?4512(b)(2)
https://www.scotusblog.com/case-files/cases/collins-v-mnuchin/
(Decided according to David Thompson 1 week after resolution in Seila Law, ~first week of july-2020)
19-563 Mnuchin v. Patrick J Collins (Pending petition SCOTUS)…….Relates to all cases
Claim: § 4617(f) prevents ruling on 3th amendment, § 4617(b)(2)(A) (i) forbids challenging the Third Amendment
(Decided according to David Thompson 1 week after resolution in Seila Law, ~first week of july-2020)
https://www.scotusblog.com/case-files/cases/mnuchin-v-collins/

13-1053 (14-5254) (1:13-cv-01053)
Fairholme Fund, Inc. v. FHFA……Preferred, Direct & Derivative

Honorable: Royce C. Lamberth
Claim: 3th amendment, breach of fiduciary duty, breach of contract, breach of the implied covenant of good faith and fair dealing
District Court for the District of Columbia
RFP’s Granted
https://www.courtlistener.com/docket/4212077/fairholme-funds-inc-v-federal-housing-finance-agency/
Fact discovery was to close on April 30, 2020, Trial was set for March 31, 2021 (with a pretrial 30-60 days before)
May 9, 2020 - The deadlines in the Second Amended Scheduling Order are hereby adjourned
pending further order of this Court, The parties are directed to submit proposed amended deadlines no later than June 30, 2020. https://www.courtlistener.com/recap/gov.uscourts.dcd.160910/gov.uscourts.dcd.160910.118.0.pdf



13-1288 (1:13-mc-01288)
In re Fannie Mae/Freddie Mac Senior Preferred Stock Purchase Agreement
Class Action Litigations ………………………… Common & Preferred, Class Action, Direct & Derivative

Honorable: Royce C. Lamberth
District Court for the District of Columbia
Plaintiffs demand a Trial by Jury
Direct claim, breaches of contract, breaches of the implied
covenant of good faith and fair dealing, breaches of fiduciary duties,
and violations of Delaware and Virginia law governing dividends
If the Direct claims is denied it also claims these Derivative: breaches of fiduciary duty, compensatory damages and disgorgement, breached the terms of the certificates of designation and the implied covenant of good faith and fair dealing, appropriate equitable and injunctive relief to remedy breaches of contract, breaches of the implied covenant of good faith and fair dealing, breaches of fiduciary duty, and violations of Delaware and Virginia Corporate law, including rescission of the Third Amendment. https://www.courtlistener.com/recap/gov.uscourts.dcd.163155/gov.uscourts.dcd.163155.71.0.pdf
https://www.courtlistener.com/docket/4212341/in-re-fannie-maefreddie-mac-senior-preferred-stock-purchase-agreement/
The Class:
1) N. Bradford Isbell ....... Common
2) Michelle M. Miller ...... Common
3) Charles Rattley ………… Common
4) Timothy J. Cassell ...... Common
5) 111 John Realty Corp… Preferred
8) United Equities Commodities Com ….. Preferred
6) 1:13-cv-01149 Joseph Cacciapalle ..... Preferred
7) 1:13-cv-01421 Marneu Holdings, Co .. Preferred
9) 1:13-cv-01169 American European Insurance Co ... Preferred
10) 1:13-cv-01443 Barry P. Borodkin ....... Preferred
11) 1:13-cv-01094 Mary Meiya Liao ....... Preferred
https://www.courtlistener.com/docket/4212341/in-re-fannie-maefreddie-mac-senior-preferred-stock-purchase-agreement/
Fact discovery was to close on April 30, 2020, Trial was set for March 31, 2021 (with a pretrial 30-60 days before)
May 9, 2020 - The deadlines in the Second Amended Scheduling Order are hereby adjourned
pending further order of this Court, The parties are directed to submit proposed amended deadlines no later than June 30, 2020.
https://www.courtlistener.com/recap/gov.uscourts.dcd.160910/gov.uscourts.dcd.160910.118.0.pdf
May 9, 2020 –Document 118 Order on Motion for Miscellaneous Relief

13-1439 (1:13-cv-01439)
Arrowood Indemnity Company v. Fannie Mae……Preferred, Direct & Derivative

Honorable: Royce C. Lamberth
Claim: 3th amendment, breach of fiduciary duty, breach of contract, breach of the implied covenant of good faith and fair dealing
District Court for the District of Columbia
https://www.courtlistener.com/docket/6995674/arrowood-indemnity-company-v-federal-national-mortgage-association/
Fact discovery was to close on April 30, 2020, Trial was set for March 31, 2021 (with a pretrial 30-60 days before)
May 9, 2020 - The deadlines in the Second Amended Scheduling Order are hereby adjourned
pending further order of this Court, The parties are directed to submit proposed amended deadlines no later than June 30, 2020. https://www.courtlistener.com/recap/gov.uscourts.dcd.160910/gov.uscourts.dcd.160910.118.0.pdf

16-3113 (4:16-cv-03113)
Patrick J Collins v. Lew …………………….…Common & Preferred, Derivative

Honorable: Judge Nancy F Atlas in District Court
Claim: “for cause” separation of powers §?4512(b)(2)
https://www.courtlistener.com/docket/4533994/collins-v-lew/
After appeal 17-20364, the 5th circuit remanded this back to Judge Nancy F Atlas in District Court, S.D. Texas, after a decision in Seila Law it will proceed (~first week of july-2020)

17-497 (1:17-cv-00497)
Rop v. Federal Housing Finance agency…….Common & Preferred, Derivative

Honorable: Paul L. Maloney
Claim: voiding 3th amendment & “for cause” separation of powers and
striking down HERA 12 U.S.C. §§ 4511(a), 4512(b)(2), and 4617(a)(7)
District Court, W.D. Michigan
https://www.courtlistener.com/docket/13521280/rop-v-federal-housing-finance-agency/
No next Date available (waiting on Collins, document 64 says “notice of supplemental authority concerning Collins v. Mnuchin” http://www.glenbradford.com/wp-content/uploads/2019/09/17-cv-00497-0064.pdf )

18-2506 (17-2185) (0:17-cv-02185)
Atif F. Bhatti vs. FHFA……………Common & Preferred, Derivative

Honorable: Patrick Joseph Schiltz
District Court, D. Minnesota
Claim: 3th amendment & “for cause” separation of powers §?4512(b)(2)
https://www.courtlistener.com/docket/7379258/bhatti-v-federal-housing-finance-agency-the/
On appeal in the 8th circuit, Oral Argument 10/15/2019
http://media-oa.ca8.uscourts.gov/OAaudio/2019/10/182506.mp3
https://www.courtlistener.com/audio/65849/atif-bhatti-v-federal-housing-finance-agency/
(The court strives to issue the opinion within 90 days after oral
Argument or submission to a nonargument panel. http://media.ca8.uscourts.gov/newrules/coa/iops06-19update.pdf)

18-3478 (2:18-cv-03478)
Wazee Street Opportunities v. United States………Common, Class action, Derivative

Honorable: Nitza I Quinones Alejandro
Claim: voiding 3th amendment & “for cause” separation of powers
District Court, E.D. Pennsylvania
https://www.courtlistener.com/docket/7681282/wazee-street-opportunities-fund-iv-lp-v-the-federal-housing-finance-agency/
waiting on Collins as document 38 says Supplemental authority filed by Defendant ….. in the matter of Collins v. Mnuchin, No. 17-20364, now 19-422 / 19-563)

19-7062 (1:18-cv-01142)
Joshua J. Angel v. BOD of FNMA,FMCC & FHFA-C ….….Preferred, Direct

Previously assigned to: Honorable: Royce C. Lamberth (18-1142)
https://www.courtlistener.com/docket/6880882/angel-v-federal-home-loan-mortgage-corporation/
Claim: Breach of quarterly BOD duties
District Court for the District of Columbia
It was Decided april 24, 2020: We affirm. The district court properly dismissed Angel’s initial complaint as time-barred.“ ORDERED and ADJUDGED that the decision of the district court be AFFIRMED”
This case is lost on the statute of limitation and not on merit
http://www.glenbradford.com/wp-content/uploads/2020/04/19-7062-1839674.pdf


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Cases in Sweeney’s U.S. Court of Federal Claims
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20-121 (20-122) (13-465C) (1:13-cv-00465) (17-1122)(17-104)
FAIRHOLME FUNDS, INC. v. United States………..Common & Preferred, Direct & Derivative

Honorable: Margaret M. Sweeney
United States Court of Federal Claims
Claim: **SEALED** 413 AMENDED COMPLAINT (Entered: 03/08/2018)
Redacted version without coercion attacks available at:
https://www.docketbird.com/court-documents/Fairholme-Funds-Inc-et-al-v-USA/REDACTED-DOCUMENT-filed-by-ACADIA-INSURANCE-COMPANY-ADMIRAL-INDEMNITY-COMPANY-ADMIRAL-INSURANCE-COMPANY-ANDREW-T-BARRETT-BERKLEY-INSURANCE-COMPANY-BERKLEY-REGIONAL-INSURANCE-COMPANY-CAROLINA-CASUALTY-INSURANCE-COMPANY-CONTINENTAL-WESTERN-INSURANCE-CO/cofc-1:2013-cv-00465-00422
March 9, 2020 the interlocutory appeal was granted the
CFC identified six “controlling questions of law” raised by its order, the first three of
which pertain to the CFC’s decision to dismiss Petitioners’ direct claims:
(1) Whether the court lacks subject-matter jurisdiction over plaintiffs’ direct
claims for breach of fiduciary duty and breach of implied-in-fact contracts.
(2) Whether plaintiffs who purchased stock in Fannie and Freddie after the
PSPA amendments lack standing to pursue their direct claims.
(3) Whether plaintiffs lack standing to pursue their self-styled direct claims
because those claims are substantively derivative in nature.
The last three controlling questions identified by the CFC related to its decision
to deny the motion to dismiss Petitioners’ derivative claims:
(4) Whether plaintiffs have standing to assert derivative claims notwithstanding HERA’s succession clause.
(5) Whether the [FHFA-as-conservator’s] actions are attributable to the United States such that the court possesses subject-matter jurisdiction to entertain plaintiffs’ derivative takings and illegal exaction claims.
(6) Whether plaintiffs’ allegations that the FHFA entered into an implied-in-fact contract with the Enterprises to operate the conservatorships for shareholder benefit fail as a matter of law.
http://www.glenbradford.com/wp-content/uploads/2020/03/20-121-0002.pdf
By no later than 14 days after the completion of that process (interlocutory appeal), the parties shall file a joint status report in which they propose further proceedings, if any are necessary.

The following List Of Fannie Mae and Freddie Mac Shareholder Suits are Pending In The Court Of Federal Claims awaiting a decision in the Fairholmes interlocutory appeal, with below each group their stand on the interlocutory appeal, and further replies

1) 13-466C Joseph Cacciapalle ………..………… Preferred, Class Action, Direct*
2) 13-496C American European Insurance.…. Preferred, Class Action, Direct
3) 13-542C Francis J. Dennis ………………….…. Preferred
March 27, 2020 above 3 Plaintiff’s think none of their counts should be dismissed

4) 13-385C Washington Federal v. United States . Common & Preferred, Class Action, Direct*
April 2, 2020 Plaintiff argues None of the claims in Fairholme apply to their case
April 16, 2020 the government thinks:
a) Fannie Mae And Freddie Mac Shareholders Lack Standing To Assert Substantively-Derivative Claims As Direct Claims
b) The Court Lacks Jurisdiction To Review The Merits Of The Enterprises’ Placement In Conservatorship
c) The Washington Federal Plaintiffs May Not Pursue Derivative Claims


5) 13-608C Bryndon Fisher (FNMA) .........….. Common Derivative*
6) 14-152C Bruce Reid (FMCC) …………………… Common Derivative*
May 18, 2020 Fisher/Reid file motion to certify interlocutory appeal
7) 13-672C Erick Shipmon……..…………………… Common Derivative
March 27, 2020 above 3 Plaintiff’s think their claim is substantially the same as Fairholme’s
April 7, 2020 TRANSCRIPT of proceedings held on March 5, 2020 before Chief Judge Margaret M. Sweeney. Total No. of Pages: 1-77.
Release of Transcript Restriction set for 7/6/2020.

8) 13-698C Arrowood Indemnity Company . Preferred Direct*
April 6, 2020 Plaintiff’s think none of the Fairholme counts apply to their case
May 15, 2020 the court dismisses plaintiffs’ claims because it lacks jurisdiction to entertain their fiduciary duty and implied-in-fact-contract claims, and plaintiffs lack standing to pursue any of their claims. The court therefore GRANTS defendant’s motion to dismiss.
9) 14-740C Louise Rafter .........…………………. Common Direct & Derivative*
March 31, 2020 plaintiff continue to stay until 21 days following resolution of Fairholme

10) 18-281C Owl Creek Asia I L.P...........………. Preferred, Direct *
11) 18-369C Akanthos Opportunity Master Fund .. Preferred, Direct *
12) 18-370C Appaloosa Investment .........……. Preferred, Direct *
13) 18-371C CSS LLC ……………………………………. Preferred, Direct *
14) 18-529C Mason Capital L.P...........………….. Preferred, Direct *
March 26, 2020 above 5 plaintiffs don’t want to give up the direct claims and doubt the counts in Fairholme properly represent their counts, and point out the law was breached


15) 18-1124C Wazee Street……………….………… Common, Class Action, Direct & Derivative
16) 18-1150C Highfields Capital………………….. Common & Preferred, Direct
17) 18-711C 683 Capital Partners………..……….. Common, Preferred, Direct
18) 18-712C Joseph S. Patt………………………..… Preferred, Direct
19) 18-1226C Perry Capital LLC……………………. Common & Preferred, Direct & Derivative
20) 18-1155C CRS Master Fund LP…..…………… Preferred, Direct
Above 6 Plaintiffs are staying

21) 18-1240C Quinn Opportunities Master LP … Preferred, Direct
May 19, 2020 - Status unknown

* Jones Days plaintiffs


Sisti v. Federal Housing Finance Agency
Case number: 17-005 (90-1762)(17-042)

Honorable: John James McConnell, Jr
District Court, D. Rhode Island
Claim: FHFA, Fannie Mae, and Freddie Mac are government entities
https://www.courtlistener.com/docket/6900150/sisti-v-federal-housing-finance-agency/
March 24, 2020 Stipulation ~Until - Set Scheduling Order Deadlines
The Parties report to the Court that they are currently re-engaged in negotiations aimed at resolving the action. In order to afford the Parties with sufficient time to complete these discussions and discovery (if necessary), the Parties jointly request the Court extend the scheduling order deadlines by three (3) months to the following:
Factual Discovery to close by 6/30/2020;
Plaintiff's Expert Disclosures shall be made by 7/30/2020;
Defendants' Expert Disclosures shall be made by 8/28/2020;
Expert Discovery to close by 9/30/2020; and
Dispositive Motions due by 10/30/2020.
https://www.courtlistener.com/recap/gov.uscourts.rid.41482/gov.uscourts.rid.41482.53.0.pdf
When decided FHFA, FNMA and FMCC are government entities for matters of constitutional claims of due process and will confirm or not the paragraph nobody can take action while in conservatorship.
https://ecf.rid.uscourts.gov/cgi-bin/show_public_doc?2017cv0005-39


Seila law v. Consumer Financial Protection bureau
***Decision in the last 2 weeks of June 2020***

Case number: 19-7 (17-56324)
Court: Supreme Court of the United States
Issues: (1) Whether the vesting of substantial executive authority in the Consumer Financial Protection Bureau, an independent agency led by a single director, violates the separation of powers; and (2) whether, if the Consumer Financial Protection Bureau is found unconstitutional on the basis of the separation of powers, 12 U.S.C. §5491(c)(3) can be severed from the Dodd-Frank Act.
https://www.scotusblog.com/case-files/cases/seila-law-llc-v-consumer-financial-protection-bureau/
Transcript of argument on Tuesday, March 3, 2020.
https://www.supremecourt.gov/oral_arguments/argument_transcripts/2019/19-7_j4ek.pdf
Audio: https://www.oyez.org/cases/2019/19-7
1) Questions asked by plaintiff: for cause violates the separation of powers
2) The Court added a second question: can for cause be severed from Dodd-Frank Act
Plaintiff and the government agree on the first question that “for cause” violates the constitution, but disagree on the second question
Plaintiff contends reverse the judgment and either decline to reach the question of severability or declare it is not severable.
The government argues that the Court should remand for further proceedings.
(The decision in this case will decide on Collins SCOTUS 19-422 “backward-looking relief” witch the 5th circuit en banc declined)


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