Fannie Mae (FNMA)

[Wise Man]

The warrants are an issue since 2008, because under SEC rules the UST beneficially owns a 79.9% stake in FnF regardless of being exercised and that's why FnF report earnings on a diluted basis.

You are referring to the Portuguese, who works for Pagliara and other plaintiffs that are negotiating with the Govt using the warrant to trade, seeking a settlement that includes a swap JPS for Common Stocks.

Once the warrant is exercised, the litigation would be resolved at the time that the UST had sold its shares on the market to its cronies 10 years before. This is why the corrupt plaintiffs don't challenge the warrant.