“Lies, Damned Lies, and Statistics”

Posted by & filed under Investor lawsuits.

Judge Chesler issued an Opinion in The Prudential Insurance Company of America et al. v. Bank of America, National Association et al., No. 13-1586 (Apr. 17, 2014), deciding the motion to dismiss the Complaint. Claims relating to fraud, a theory of underwriting abandonment and the 1933 Securities Act survived the motion to dismiss. The Court… Read more »

GSE Litigation Through Corporate Law Lens

Posted by & filed under 2013, Class Action Litigation, Government lawsuits, Investor lawsuits.

Adam Badawi and Anthony Casey have posted The Fannie and Freddie Bailouts Through the Corporate Lens to SSRN. The paper takes a look at the bailouts as if they were simple insolvent private firms. This is a helpful thought experiment even though the two federally chartered and heavily regulated firms are anything but simple, private… Read more »

Tough Row to Hoe for Frannie Shareholders

Posted by & filed under 2013, Investor lawsuits.

Inside Mortgage Finance quoted me in a story, GSE Jr. Preferred Shareholders Have a Tough ‘Row to Hoe’ in Winning Their Lawsuits (behind a paywall). It reads, Expect a long and winding legal road to resolution of investor lawsuits challenging the Treasury Department’s “net worth sweep” of Fannie Mae and Freddie Mac earnings, warn legal… Read more »

Reiss on Fannie/Freddie Suits

Posted by & filed under Class Action Litigation, Government lawsuits, Investor lawsuits, Upstream litigation media coverage.

Bloomberg BNA quoted me in No Basis for Discovery by GSE Investors, Treasury Department, FHFA Memos Say. It reads [Reproduced with permission from BNA’s Banking Report, 102 BBR 417, 3/11/14. Copyright  2014 by The Bureau of National Affairs, Inc. (800-372-1033) http://www.bna.com] The Treasury Department and the Federal Housing Finance Agency March 4 said a… Read more »

U.S. Dismissive of Frannie Suits

Posted by & filed under Class Action Litigation, Investor lawsuits.

The Federal Housing Finance Agency filed its motion to dismiss all the claims in Perry Capital v. Lew, D.D.C., No. 13-cv-01025, 1/17/14. I blogged about this case (and similar cases) when they were filed last summer. It is quite interesting to read the government’s side of the story now. Today’s post focuses on the federal… Read more »