Stocks

Fannie Mae Lawsuit Moving Towards Endgame?

Big GSE moves lately it looks like there is going ot be something soon although just speculating – below is an update from Investors Unite also listen to audio of some of the court arguments from  the Seventh Circuit hearing

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More below from UI

net worth sweep Fannie Mae Freddie Mac
By User:AgnosticPreachersKid (Own work) [CC BY-SA 3.0], via Wikimedia Commons
Tomorrow, November 1, 2017, at 10:00 a.m. EST, Investors Unite will host a teleconference to update IU members and the media on the most recent legal developments as numerous cases continue across the country, including the most recent October 30 oral arguments in Roberts vs. FHFA in the 7th District Court and Judge Sweeney’s latest opinion in the Fairholme Funds case.

The discussion will feature a summary of the October 30 oral arguments in Roberts vs. FHFA where shareholders allege the Net Worth Sweep and the Preferred Stock Purchase Agreements are in violation of the Housing and Economic Recovery Act. Participants will also provide updates on the Fairholme Funds appeal, where, on October 4, Judge Sweeney handed a win to shareholders by granting the motion to compel the production of 1,500 documents in a “quick peek” procedure.

Investors Unite Executive Director Tim Pagliara will be joined by David Thompson, one of the attorneys representing the plaintiffs in Roberts vs. FHFA, who presented oral arguments on their behalf yesterday.

To join the teleconference, please RSVP to media@investorsunite.org

To ensure you are on the line in time for the start of the call, please be sure to dial in at least 10 minutes ahead of the scheduled start time.
Who: Tim Pagliara, Investors Unite Executive Director and CapWealth Advisors CEO

David H. Thompson, Managing Partner, Cooper & Kirk
What: Investors Unite Legal Updates Teleconference
When: Wednesday, November 1, 2017, at 10:00 a.m. EST
Dial In: 877-876-9173; Conference ID: GSE
RSVP: Please RSVP to media@investorsunite.org