Replies to post #12628 on Fannie Mae Preferred S (FNMAS)

[KylieM]

It's actually a catch 22 situation. Commons' rights, powers, privileges etc got ripped off by the conservator. Meanwhile, it takes more than half shareholders' votes to sue the conservator for breaching its fiduciary duty to the same.

[cfljmljfl]

Taintedfud you are correct. Senior preferred have no vote and states in initial cship agreement. Warrants have only right to be exercised in stated time frame. If exercised, common have voting right.