July 24, 2013
Fairholme or Foul? Investor Complaint Over Fannie and Freddie Preferred
I recently reviewed the complaint filed by former Solicitor General Olson in Perry Capital LLC v. Lew and today I review the complaint in a similar lawsuit, Fairholme Funds, Inc. v. United States, filed July 9, 2013. Fairholme filed another … Continue reading
July 24, 2013 in Investor lawsuits | Permalink | No Comments
July 15, 2013
Where’s Perry? Are Phannie and Freddie Busted?!?
With all apologies to Perry the Platypus who stars in my sons’ favorite TV show, Phineas and Ferb, today I look at the complaint in Perry Capital, LLC v. Lew et al. Perry Capital has sued the federal government for … Continue reading
July 15, 2013 in Investor lawsuits | Permalink | No Comments
July 5, 2013
BofA No Worm Ouroboros
The Worm Ouroboros of myth was a gigantic serpent that encircled the earth only to bite its own tail. Judge Sweet (SDNY) has ruled that Bank of America is no modern-day Ouroboros that is so enormous that it must sue … Continue reading
July 5, 2013 in Investor lawsuits | Permalink | No Comments
July 3, 2013
More Misrepresentations, More Litigation
Judge Pfaelzer (C.D. Cal.) issued an order in American International Group Inc. v. Bank of America Corp., No. 2:11-CV-10549 (May 6, 2013), which allowed AIG to proceed with its claim that it was fraudulently induced to buy MBS by Countrywide … Continue reading
July 3, 2013 in Investor lawsuits | Permalink | No Comments
June 28, 2013
BoA Claws Back Clawback
New York County Supreme Court Justice Bransten held, in U.S. Bank National v. Countrywide Home Loans, Inc., no. 652388-2011 (May 29, 2013), that a trustee cannot succeed in getting the defendants (Countrywide entities among others) to repurchase all of the … Continue reading
June 28, 2013 in Investor lawsuits | Permalink | No Comments
June 24, 2013
Investor HERA-sy
As I have previously noted, Fannie and Freddie investors have filed a complaint, Washington Federal et al. v. U.S.A., No. 1:13-cv-00385-MMS (June 10, 2013), alleging that the federal government “expropriated [Fannie and Freddie’s] common and preferred shareholders’ rights and the … Continue reading
June 24, 2013 in Investor lawsuits | Permalink | No Comments
June 21, 2013
Fannie and Freddie Myth-Statement
Fannie Mae and Freddie Mac’s investors have sued the federal government in Washington Federal v. United States, No. 1:13-00385 (June 10, 2013), for how it bailed out the two companies and thereby the nation’s housing market at the expense of … Continue reading
June 21, 2013 in Investor lawsuits | Permalink | No Comments
