$FNMA #FANNIEGATE
CRS Master Fund, L.P., Cyrus Opportunities Master Fund II, Ltd., Cyrus Select Opportunities Master Fund, Ltd., and Crescent 1, L.P., owning more than $230 million of junior preferred stock at the time the Net Worth Sweep was imposed, filed a lawsuit in the U.S. Court of Claims. "At the time of purchase, Cyrus had no reasonable ground to expect that, while the Companies were in conservatorship, the United States instead would expropriate its investment and force shareholders into years of litigation to recoup their investments," Cyrus tells Judge Sweeney in its complaint modeled on Owl Creek's. Cyrus is represented by a team of lawyers led by Bruce S. Bennett at Jones Day.18-01155-0001
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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.