$FNMA #FANNIEGATE
Judge Sweeney granted the government's motion for more time to respond to Fairholme's motion to amend its complaint. The government has until Fri., Aug. 31, to file its response, and a copy of that order is attached to this e-mail message. 13-465-0418
Quinn Opportunities Master LP and Quinn Select Opportunities LP Series A, which own more than $119 million of junior preferred stock in the GSEs, filed a lawsuit in the U.S. Court of Federal Claims late last week, and a copy of the complaint it attached to this e-mail message. Paragraph 45 of the Quinn Complaint details that the GSEs were past the trough in their financial performance prior to the imposition of the Net Worth Sweep, and the complaint goes on to explain how the government nationalized the GSEs and expropriate stockholders' interests in the Enterprises without just compensation. Quinn is represented by Nancie G. Marzulla and Roger J. Marzulla at Marzulla Law, LLC, in Washington, D.C. 18-01240-0001
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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.