Fannie Mae (FNMA)

[Release us]

We know it's going to be 2a and not 2b. The 5th circuit let that be known right quick. With the same filing going to Bhatti after the fact. They will address this in their order/remand.

2. Entering an injunction that restores plaintiffs to the position they would have
been in were it not for the unconstitutional removal restriction. At a minimum, such an
injunction should direct Defendants to either (a) reduce the liquidation preference on
Treasury’s senior preferred stock to zero and end further increases to the liquidation
preference except as necessary to offset any further draws on Treasury’s funding
commitment; or (b) convert Treasury’s senior preferred stock to common stock.