I do not know why the Plaintiffs did not use the Law. Our Friend Barron stated this...
"The Plaintiffs brought the wrong lawsuit. Lamberth told the lawyers that they were bringing the wrong case. Had the Plaintiffs challenged the Net Worth Sweep based on violating the laws, most likely would have won back in 2013."
The Federal statutes are the Charter Act, the Safety and Soundness Act of 1992, as amended by HERA, Administrative Procedures Act, and potentially the Chief Financial Officers Act. None of the litigation made any claims of violation of these acts.
All the lawsuits challenged the actions of the Conservator within the terms of the SPSPA... AND The Supreme Court basically said we will not rule or give Judgment are act as an arbitrator on the contract the SPSPA. So, the NWS was not validated as legal or illegal by the Court: The Court dismissed the lawsuit.
Again, Justice Breyer told the Plaintiffs how to win! AND the Plaintiffs focus is on LOSS DIVIDENDS.
UPMOST IMPORTANT: JUSTICE BREYER: Quote: “Thank you. I think in reading this you could, with trying to simplify as much as possible, do you -- the shareholders' claim as saying we bought into this corporation, it was supposed to be private as well as having a public side, and then the government nationalized it. That's what they did. If you look at their giving the net worth to Treasury, it's nationalizing the company. Now, whatever conservators do and receivers do, they don't nationalize companies. And when they nationalized this company, naturally they paid us nothing and our shares became worthless. And so what do you say?” End of Quote, page 12
Link possibly will not work; the above statement is of record.
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