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.
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.