IN RE: FANNIE MAE/FREDDIE MAC SENIOR PREFERRED STOCK PURCHASE AGREEMENT CLASS ACTION LITIGATIONS

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Case overview

Case Number:

1:13-mc-01288

Court:

District Of Columbia

Nature of Suit:

Other Statutory Actions

Multi Party Litigation:

Class Action, Derivative Litigation

Judge:

Royce C. Lamberth

Firms

Companies

Government Agencies

Federal Housing Finance Agency

Sectors & Industries:

Financial
- Mortgage Investment

November 04, 2022
Fannie, Freddie Profit Sweep Jury Is Deeply Divided

A D.C. federal jury was still deadlocked Friday after roughly 18 hours of deliberation over Fannie Mae and Freddie Mac shareholders' claims that the Federal Housing Finance Agency improperly amended stock purchase agreements to allow the U.S. Department of the Treasury to sweep up the companies' net profits.
November 02, 2022
Jury Continues Deliberations On Fannie, Freddie Profit Sweep

A D.C. federal jury continued deliberating Wednesday in spite of a COVID-19 scare and request for a mistrial in Fannie Mae and Freddie Mac shareholders' lawsuit accusing the Federal Housing Finance Agency of improperly amending stock purchase agreements to allow the U.S. Department of the Treasury to sweep up the companies' net profits.
November 01, 2022
Jury Mulls Fannie, Freddie Shareholder Profit Sweep Claims

The Federal Housing Finance Agency warned a D.C. federal jury Tuesday against using hindsight to consider the reasonableness of its decision to amend Fannie Mae and Freddie Mac stock purchase agreements to let the U.S. Department of the Treasury sweep up the companies' net worths, encouraging the panel to step into officials' shoes during deliberations.
October 31, 2022
Jury Hears Final Arguments Over Fannie, Freddie Profit Sweep

A D.C. federal jury was told Monday the Federal Housing Finance Agency's decision to amend Fannie Mae and Freddie Mac stock purchase agreements and let the U.S. Treasury sweep up the companies' net worths made their stocks essentially worthless, dashing shareholders' hopes of receiving dividends.
October 27, 2022
Gov't Says Fannie, Freddie Profit Sweep Calmed Market Fears

The Federal Housing Finance Agency's decision to amend stock purchase agreements and allow the U.S. Department of the Treasury to sweep up Fannie Mae's and Freddie Mac's net worths was reasonable because it successfully quelled market concerns over the two companies running out of money, a financial consultant told a D.C. federal jury Thursday.
October 26, 2022
Ex-Freddie Exec Says Gov't Profit Sweep 'Simplified' Issues

Unlike his Fannie Mae counterpart, Freddie Mac's former chief financial officer believed the Federal Housing Finance Agency's decision to amend stock purchase agreements and allow the U.S. Treasury to sweep up the companies' net worths "simplified things operationally" for the home mortgage outfits, according to testimony read to a D.C. federal jury Wednesday.
October 25, 2022
Ex-Fannie Exec Says Profit Sweep Was Used To Halt Recovery

Fannie Mae's former chief financial officer saw the Federal Housing Finance Agency's decision to amend stock purchase agreements and allow the U.S. Treasury to sweep up Fannie Mae's and Freddie Mac's net worths as an effort to prevent the companies from recapitalizing, according to testimony read to a D.C. federal jury Tuesday.
October 24, 2022
Jury Told Fannie, Freddie Profit Sweep Was 'Unprecedented'

A financial expert told a D.C. federal jury on Monday that the Federal Housing Finance Agency's decision to amend stock purchase agreements and allow the U.S. Treasury to sweep up Fannie Mae's and Freddie Mac's net worths was "totally unprecedented" and unnecessary.
October 20, 2022
FHFA Says It Didn't Study Fannie, Freddie Profit Sweep Effect

Former Federal Housing Finance Agency Director Edward DeMarco admitted to a D.C. federal jury Thursday that the agency didn't conduct any analysis or studies before allegedly improperly amending stock purchase agreements to allow the U.S. Treasury to sweep up Fannie Mae's and Freddie Mac's net worths.
October 19, 2022
DC Jurors Hear Original Fannie Mae, Freddie Mac Bailout Plan

A D.C. federal jury on Wednesday repeatedly heard witnesses read portions of a Federal Housing Finance Agency 2008 FAQ sheet about the government's bailout of Fannie Mae and Freddie Mac as shareholders sought to establish the deal's original intent, which they claim the U.S. Treasury strayed from later by sweeping up the companies' net worth.