Fannie Mae-No Politics (FNMA)

[GAK-]

False. The BOD will NEVER owe fiduciary responsibility to preferreds.

"the Delaware Chancery Court held that where the interests of the common stockholders diverge from those of the preferred stockholders, a board of directors member may be held liable for breach of fiduciary duty if he favors the interests of the preferred over the interests of the common"

https://www.lewis-roberts.com/sites/default/files/LR057507_0.pdf