Replies to post #561898 on Fannie Mae-No Politics (FNMA)

[kthomp19]

Wash Fed Class Action

The word CLASS suggests criteria to be part of the CLASS (action)

Yes. The class members in the Washington Federal case are everyone who owned either common or (junior) preferred shares as of September 5 2008. It is spelled out in the complaint, and nobody else is included.

Are any of the lawsuits here - plaintiff JPS and common - various courts - designated and brought forth as class actions ?

The Wazee case was filed as a class action, and seeks damages for

a class consisting of all persons and entities who held common stock in Fannie Mae on August 17, 2012 and who were damaged thereby, and their successors in interest (meaning current shareholders) (the "Fannie Common Class")

and similarly for Freddie. If Sweeney ever actually enters a judgment (a near impossibility in my opinion, I think all the cases will get settled), it looks like both current shareholders and people who held shares on the date of the NWS (but sold since then) would participate in the award.

I don't think Sweeney has certified any classes yet, and here is what a source I trust had to say on the matter:

as I recall none of the Sweeney cases have been certified yet since they are the subject of motions to dismiss, to be argued November. the Lamberth case is styled as a class action and since it is on a trial schedule I would think it has been certified, but dont know for sure.

If Sweeney's cases are settled before she certifies any classes, then the government only has to negotiate with (and potentially pay off) the named plaintiffs.