April 22, 2014
Reiss on Hedge Funds’ GSE Strategy
American Banker quoted me in Everything Lenders Need to Know About GSE Shareholders’ Lawsuits (behind a paywall, but available in full here). It reads in part, A powerful group of shareholders is amplifying attacks on housing finance reform legislation as … Continue reading
April 22, 2014 in Class Action Litigation | Permalink | No Comments
April 9, 2014
GSE Litigation Through Corporate Law Lens
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 … Continue reading
April 9, 2014 in Class Action Litigation | Permalink | No Comments
March 6, 2014
Reiss on Fannie/Freddie Suits
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. … Continue reading
March 6, 2014 in Class Action Litigation | Permalink | No Comments
January 23, 2014
U.S. Dismissive of Frannie Suits
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 … Continue reading
January 23, 2014 in Class Action Litigation | Permalink | No Comments
September 17, 2013
Moody Misrepresentation
Judge Daniels (SDNY) granted Moody’s motion for summary judgment in In re Moody’s Corporation Securities Litigation, No. 07 Civ. 8375 (Aug. 23, 2013). This is a big win for Moody’s, but I did find the following passage striking in its … Continue reading
September 17, 2013 in Class Action Litigation | Permalink | No Comments
August 27, 2013
Whither The Housing Trust Fund?
As part of my review of the litigation surrounding the newly-profitable Fannie And Freddie (here, here, here and here), I turn to the complaint filed by “extremely low income tenants in desperate need of affordable housing” and the National Low … Continue reading
August 27, 2013 in Class Action Litigation | Permalink | No Comments
August 16, 2013
Stalled Foreclosures in NY Not a Violation of Federal Law
Judge Townes (EDNY) dismissed a putative class action, Cole v, Baum, 11-cv-3779 (July 11, 2013), against notorious foreclosure mill Steven J. Baum, P.C. and its principal relating to their failure to submit filings that would have triggered mandatory settlement conferences … Continue reading
August 16, 2013 in Class Action Litigation | Permalink | No Comments
