Replies to post #326309 on Fannie Mae-No Politics (FNMA)

[Patswil]

Because of the significant questions of Delaware and Virginia law involved in this case,
including matters of first impression that could result in early resolution of this litigation,
contemporaneously with the filing of this brief, Plaintiffs are filing an application requesting that
this Court certify questions of law to the Delaware and Virginia Supreme Courts.

Defendants also are incorrect in asserting that Plaintiffs’ contract claims are not ripe. As
explained below and in the Complaint, FHFA has violated the contractual rights of the
Companies’ private stockholders.

The Net Worth Sweep effectively nullified Plaintiffs’ contracts
and transferred their entire value to Treasury, breaching both the express terms of the contracts
Case 1:15-cv-00708-GMS Document 23 Filed 01/15/16 Page 17 of 73 PageID #: 408
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and the implied covenant of good faith and fair dealing that inheres in those contracts.