Posts in Category: Litigation

The Fairholme Fund v. The United States of America: Cooper & Kirk, PLLC File Suit on Behalf of Mutual Fund

On July 9, 2013, the Fairholme Fund, a mutual fund with over 170,000 shareholders, announced it would be filing lawsuits in the United States Court of Federal Claims and the United States District Court for the District of Columbia. The Fairholme Fund asserts that its goal is to protect its shareholder rights as an owner of preferred stock in Fannie Mae and Freddie Mac. According to Bruce R. Berkowitz, the Chief Investment Officer of Fairholme Capital Management, The Fairholme Fund “ owed Read more [...]

Washington Federal v. The United States of America: Two Leading Class-Action Law Firms File Suit Against the U.S. Government On Behalf of Proposed Class of GSE Shareholders

On June 10, 2013, Spector Roseman Kodroff & Willis, P.C., and Hagens Berman Sobol Shapiro, two leading class-action law firms, filed a lawsuit against the United States government on behalf of a proposed class of investors who held common and preferred stock in Fannie Mae and Freddie Mac. These firms assert in the lawsuit that the U.S. government wiped out an enormous amount of shareholder value when it entered into a conservatorship with Fannie Mae and Freddie Mac, and did so without just Read more [...]

Perry Capital LLC v. Lew, DeMarco, the Department of the Treasury, and the Federal Housing Finance Agency: Gibson Dunn & Crutcher Files Suit on Behalf of Hedge Fund

On July 7, 2013, Gibson Dunn & Crutcher filed a lawsuit against the above named defendants on behalf of the hedge fund Perry Capital LLC, a shareholder in Fannie Mae and Freddie Mac, two government sponsored enterprises (GSEs) which are currently under conservatorship of the Federal Housing Finance Agency (FHFA). On August 17, 2012, the Treasury and the FHFA amended the Preferred Stock Purchase Agreements (PSPAs) and stock certificates which were originally used to initiate a conservatorship Read more [...]