Fannie Mae-No Politics (FNMA)

[JOoa0ky]

"Zorn said she couldn’t accept this deal because it would’ve waived too many claims from preferred shareholders who weren’t represented in the lawsuit, after more than 2,800 investors wrote to Zurn in opposition to the deal, according to Bloomberg."

Judge Zorn blocked the conversion to protect JPS from taking a haircut.

Similarly, FnF JPS conversion to commons is the 2nd best option. I actually prefer to keep my shares and milk the dividends for perpetuity.