Fannie Mae-No Politics (FNMA)

[kthomp19]

The plaintiffs had asked for $1.6B plus pre-judgment interest. The $1.6B was the total amount all share prices dropped (all Fannie juniors, all Freddie juniors, FMCC) from the close on the day before the NWS was signed (August 16 2012) to the close on the day it was signed (August 17 2012).

The jury only awarded $612M. If you prorate that to all the series then:

Fannie 50s get around $1.30 per share
Fannie 25s get $0.70-0.90 (FNMAT gets $0.90, FNMAS $0.85, other 25s get low $0.70s)
Freddie 25s get $0.35-0.65 (FMCKJ gets $0.65, FMCKN gets $0.35, other series are in the $0.40s)
Freddie 50s get $0.62-$0.97 (FREJP gets $0.97, FMCKP and FMCCP get $0.89, most other series are in the $0.60-0.70 range)
FMCC gets about $0.05

All those numbers are after pre-judgment interest (for Fannie juniors) but before any lawyers' fees, which I estimate to be around 25%.

Of course, there is little point in speculating right now because we will see the plaintiffs' own allocation numbers on Thursday when they have to submit those numbers to Lamberth.