$FNMA #FANNIEGATE
Messrs. Jacobs and Hindes delivered their Amended Complaint to Judge Sleet this afternoon. The gravamen of this complaint, life the initial complaint, is that any preferred security claiming to be entitled to 100% of a corporation's earnings is illegal and is void. The amended complaint abandons the breach of contract and duty claims and moves forward with an unjust enrichment argument. A copy of the amended complaint is attached to this e-mail message.15-00708-0062
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Glen Bradford
Investor · Builder · Writer
MBA from Purdue. Former hedge fund manager. Holds 26 series of Fannie Mae and Freddie Mac junior preferred stock. Built Cloud Nimbus for Salesforce consulting. Author of Act As If. Writes about investing, building things, and the longest financial fraud in American history.
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Read moreDisclaimer: This blog post reflects the author's personal opinions at the time of writing and is not financial, investment, or legal advice. Glen Bradford holds positions in securities discussed on this site. Past performance is not indicative of future results. Do your own research and consult qualified professionals before making investment decisions. Some content on this site was generated or edited with AI assistance.