Fannie Mae-No Politics (FNMA)

[kthomp19]

Does it mean that for people who traded the shares in the period between Dec. 2021 and Aug. 13, 2023, the last position is relevant? In that case, the record date would not be Dec. 7, 2021, but Aug. 13, 2023 (assuming that the jury verdict is not appealed).

No. The "record date" is when either a settlement is reached or a final judgment occurs.

From the class action notice on page 19 of the pdf:

You must maintain ownership in the underlying security through the date of any final judgment or settlement to remain a member of the Classes. If you sell your shares of Fannie Mae or Freddie Mac preferred stock or Freddie Mac common stock before that time, you will no longer be a member of the Classes.

“Final judgment” means the judgment of the Court after (1) any and all appeals to the U.S. Court of Appeals for the D.C. Circuit (the “Court of Appeals”) have been adjudicated, or the time for appeal to the Court of Appeals has expired with no appeal having been taken, (2) any and all petitions for writ of certiorari to the U.S. Supreme Court (the “Supreme Court”) have been adjudicated, or the time for filing petitions for writ of certiorari has expired with no petition having been filed, and (3) if any petition for writ of certiorari is granted, any and all appeals to the Supreme Court have been adjudicated.

Whoever holds shares on the date of final judgment or settlement gets the money.

It should be apparent when a final judgment is on the horizon, but if a settlement occurs it could be at any time, so trying to time things is risky.