Pershing Fannie Mae, Freddie Mac Lawsuit Coordinated With Fairholme Before Sweeney by Todd Sullivan, ValuePlays
The order (link) :
On October 10, 2014, defendant in the above-captioned case filed an unopposed motion for an extension of time to respond to plaintiffs’ complaint. This case is coordinated with jurisdictional discovery in Fairholme Funds, Inc. v. United States, 13-465. Defendant thus requests that it be required to respond to plaintiffs’ complaint sixty days after jurisdictional discovery has concluded in Fairholme. For good cause shown, the motion is GRANTED; defendant’s response to plaintiffs’ complaint is due sixty days after the completion of jurisdictional discovery in Fairholme.Corsair Took A Hit From Small-Cap Underperformance In Q3; Says Evergrande Not The Next Lehman Brothers
Corsair Capital was down by about 3.5% net for the third quarter, bringing its year-to-date return to 13.3% net. Corsair Select lost 9.1% net, bringing its year-to-date performance to 15.3% net. The HFRI – EHI was down 0.5% for the third quarter but is up 11.5% year to date, while the S&P 500 returned 0.6% Read More
The government now has to file an answer to Pershing’s complaint by May 27 (give or take a few days). The next step one has to expect is for Pershing’s legal team at Jones Day to request to be added to the protective order and to be included in discovery. Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC)
I would fully expect that to be granted by Sweeney.