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Transcript of Fannie Mae Lawsuit Chart
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5/19/2018 Fannie Mae Lawsuit Chart
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____________________________________________________________________________________________________________________________________________________
This chart was prepared by Troubled Company Reporter and Class Action Reportereditors and posted at http://bankrupt.com/gselitigationsummary201408.pdf for the convenienceof those newsletters' subscribers. All rights reserved. Copyright 2014 Bankruptcy Creditors' Service, Inc., and Beard Group, Inc. Unaltered, this document may be
freely shared with anyone for any purpose. For additional information, contact Peter A. Chapman at [email protected] by e-mail or (215) 945-7000 by telephone.
Significant Lawsuits Concerning Fannie Mae & Freddie Mac Net Worth Sweep
Updated August 16, 2014
Title1
Plaintiffs'Lawyers
Claims for Relief
Relief Requested2
Pre-TrialSummaryJudgmentProceedings
Current Status
NextCalendarEvent
American European
Insurance Company
v. Federal NationalMortgage
Association, et al.,
Case No. 13-cv-01169 (D.C. filedJuly 30, 2013)
Michael G.McLellan
L. KendallSatterfieldElizabeth R. MakrisFINKELSTEINTHOMPSON LLP
Jeremy A.LiebermanLesley F. Portnoy
Patrick V.DahlstromPOMERANTZGROSSMANHUFFORDDAHLSTROM &GROSS LLP
Breach of contract
Breach of the impliedcovenant of good faith andfair dealing
Class action certification andappointment as Class Representative
Awarding Plaintiffs and the Class theamount of damages they sustained asa result of defendants breaches ofcontract and breaches of the impliedcovenant of good faith and fairdealing
Granting appropriate equitable and
injunctive relief to remedydefendants breaches of contract andbreaches of the implied covenant ofgood faith and fair dealing
Consolidatedinto Misc. Action
No. 13-mc-1288(D.C.)
1Cases are listed in alphabetical order by the Plaintiff's name. Rows shaded in grey indicate the litigation has been consolidated with another proceeding.
2Excluding requests for costs and the catch-all prayer for such other and further relief as the Court deems just and proper.
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____________________________________________________________________________________________________________________________________________________
This chart was prepared by Troubled Company Reporter and Class Action Reportereditors and posted at http://bankrupt.com/gselitigationsummary201408.pdf for the convenienceof those newsletters' subscribers. All rights reserved. Copyright 2014 Bankruptcy Creditors' Service, Inc., and Beard Group, Inc. Unaltered, this document may be
freely shared with anyone for any purpose. For additional information, contact Peter A. Chapman at [email protected] by e-mail or (215) 945-7000 by telephone.
Title1
Plaintiffs'Lawyers
Claims for Relief
Relief Requested2
Pre-TrialSummaryJudgmentProceedings
Current Status
NextCalendarEvent
American European
Insurance Company
v. USA, Case No.13-496 (Ct. Fed. Cl.filed July 19, 2013)
Jeremy A.LiebermanLesley F. PortnoyPatrick V.DahlstromPOMERANTZGROSSMANHUFFORDDAHLSTROM &GROSS LLP
Charles J. PivenBROWER PIVEN
Just compensation under theFifth Amendment
Class certification and appointmentas Class Representative
Awarding Plaintiff and the Class justcompensation for the Government'staking of their property
Consolidatedwith Cacciapellev. United States,Case No. 13-672(Ct. Fed. Cl.)
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____________________________________________________________________________________________________________________________________________________
This chart was prepared by Troubled Company Reporter and Class Action Reportereditors and posted at http://bankrupt.com/gselitigationsummary201408.pdf for the convenienceof those newsletters' subscribers. All rights reserved. Copyright 2014 Bankruptcy Creditors' Service, Inc., and Beard Group, Inc. Unaltered, this document may be
freely shared with anyone for any purpose. For additional information, contact Peter A. Chapman at [email protected] by e-mail or (215) 945-7000 by telephone.
Title1
Plaintiffs'Lawyers Claims for Relief Relief Requested
2
Pre-TrialSummaryJudgmentProceedings Current Status
NextCalendarEvent
Arrowood Indemnity
Co., et al. v. USA,
Case No. 13-698 (Ct.Fed. Cl. filed Sept.18, 2013) (Sweeney,J.)
Drew W. MarroccoMichael H. BarrRichard M.ZuckermanSandra HauserDENTONS US LLP
Against the United States ofAmerica for justcompensation under the FifthAmendment
Awarding Arrowood Parties justcompensation for the Government'staking of their property
Requests by theGovernment formore time toanswer orrespond. SeeDocs. 19, 16, 15,12, 11, 10, 9 and8.
AwaitingGovernment'sanswer orresponse toArrowood'sComplaint
08/29/2014 forGovernmentto answer,move orotherwiseplead. SeeDoc. 21.
Borodkin, et al. v.
Federal National
Mortgage
Association, et al.,Case No. 13-cv-01443 (D.C. filedSept. 20, 2013)
Craig L. BriskinMEHRI & SKALET,PLLC
Barbara J. HartThomas A. SkeltonLOWEYDANNENBERGCOHEN & HART
Breach of contract
Breach of the impliedcovenant of good faith andfair dealing
Class action certification andappointment as Class Representative
Awarding Plaintiffs and the Class theamount of damages they sustained asa result of defendants breaches ofcontract and breaches of the impliedcovenant of good faith and fairdealing
Granting appropriate equitable and
injunctive relief to remedydefendants breaches of contract andbreaches of the implied covenant ofgood faith and fair dealing
Consolidatedinto Misc. ActionNo. 13-mc-1288(D.C.)
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____________________________________________________________________________________________________________________________________________________
This chart was prepared by Troubled Company Reporter and Class Action Reportereditors and posted at http://bankrupt.com/gselitigationsummary201408.pdf for the convenienceof those newsletters' subscribers. All rights reserved. Copyright 2014 Bankruptcy Creditors' Service, Inc., and Beard Group, Inc. Unaltered, this document may be
freely shared with anyone for any purpose. For additional information, contact Peter A. Chapman at [email protected] by e-mail or (215) 945-7000 by telephone.
Title1
Plaintiffs'Lawyers Claims for Relief Relief Requested
2
Pre-TrialSummaryJudgmentProceedings Current Status
NextCalendarEvent
Cacciapelle, et al. v.
Federal National
Mortgage
Association, et al.,
Case No. 13-cv-01149 (D.C. filedJuly 29, 2013)(Lamberth, J.)
Hamish P.M. HumeBOIES, SCHILLER &FLEXNERLLP
Lee D. RudyEric L. ZagarKESSLER TOPAZMELTZER &CHECK, LLP
Breach of contract
Breach of the impliedcovenant of good faith andfair dealing
Class action certification andappointment as Class Representative
Awarding Plaintiffs and the Class theamount of damages they sustained asa result of defendants breaches ofcontract and breaches of the impliedcovenant of good faith and fairdealing
Granting appropriate equitable andinjunctive relief to remedydefendants breaches of contract andbreaches of the implied covenant ofgood faith and fair dealing
Consolidatedinto Misc. ActionNo. 13-mc-1288(D.C.)
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____________________________________________________________________________________________________________________________________________________
This chart was prepared by Troubled Company Reporter and Class Action Reportereditors and posted at http://bankrupt.com/gselitigationsummary201408.pdf for the convenienceof those newsletters' subscribers. All rights reserved. Copyright 2014 Bankruptcy Creditors' Service, Inc., and Beard Group, Inc. Unaltered, this document may be
freely shared with anyone for any purpose. For additional information, contact Peter A. Chapman at [email protected] by e-mail or (215) 945-7000 by telephone.
Title1
Plaintiffs'Lawyers Claims for Relief Relief Requested
2
Pre-TrialSummaryJudgmentProceedings Current Status
NextCalendarEvent
Cacciapalle, et al. v.
USA, Case No.13-466 (Ct. Fed. Cl.filed July 10, 2013)(Sweeney, J.)
Hamish P.M. HumeBOIES, SCHILLER &FLEXNERLLP
Lee D. RudyEric L. ZagarKESSLER TOPAZMELTZER &CHECK, LLP
Against the United States ofAmerica for justcompensation under the FifthAmendment
Class action certification andappointment as Class Representative
Awarding just compensation for theGovernment's taking of theirproperty
Government'sMotion toDismiss Filed(Doc. 42)
Briefingregarding themotion todismiss is stayedpending theconclusion ofjurisdictionaldiscovery inFairholme. Oncethe parties in
Fairholme file apostdiscoveryjoint statusreport, the courtwill issue anorder in this caseregarding furtherproceedings. SeeDoc. 46.
Judge Sweeneyindicates thatdiscovery in thiscase is notstayed. SeeDoc.49.
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____________________________________________________________________________________________________________________________________________________
This chart was prepared by Troubled Company Reporter and Class Action Reportereditors and posted at http://bankrupt.com/gselitigationsummary201408.pdf for the convenienceof those newsletters' subscribers. All rights reserved. Copyright 2014 Bankruptcy Creditors' Service, Inc., and Beard Group, Inc. Unaltered, this document may be
freely shared with anyone for any purpose. For additional information, contact Peter A. Chapman at [email protected] by e-mail or (215) 945-7000 by telephone.
Title1
Plaintiffs'Lawyers Claims for Relief Relief Requested
2
Pre-TrialSummaryJudgmentProceedings Current Status
NextCalendarEvent
Cane v. Federal
Housing Finance
Agency, et al., CaseNo. 13-cv-01184(D.C. filed Aug. 1,2013)
David L. Wales
BERNSTEINLITOWITZ BERGER& GROSSMANN,LLP
Breach of contract against
FHFA for (i) modification ofthe certificates and series ofstock without shareholdersconsent and (ii) eliminationof dividends
Anticipatory breach ofcontract against FHFA forrepudiation of shareholders
right to any eventualliquidation surplus
Breach of the impliedcovenant of good faith andfair dealing against FHFA
Violation of theAdministrative Procedure
Act because Treasury andFHFAs conduct (i)exceeded their statutoryauthority and (ii) wasarbitrary and capricious
No just compensation underthe Fifth Amendment
Class action certification and
appointment as Class Representative
Compensatory damages to bedetermined at trial
Just compensation under the FifthAmendment for Treasury andFHFAs taking of Plaintiffs' property
Declaring that the ThirdAmendment, and its adoption,violate HERA
Vacating and setting aside the ThirdAmendment
Enjoining Defendants fromimplementing, applying, or taking
any action whatsoever pursuant tothe Third Amendment, and from anyfurther violations of HERA
Consolidated
into Misc. ActionNo. 13-mc-1288(D.C.)
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____________________________________________________________________________________________________________________________________________________
This chart was prepared by Troubled Company Reporter and Class Action Reportereditors and posted at http://bankrupt.com/gselitigationsummary201408.pdf for the convenienceof those newsletters' subscribers. All rights reserved. Copyright 2014 Bankruptcy Creditors' Service, Inc., and Beard Group, Inc. Unaltered, this document may be
freely shared with anyone for any purpose. For additional information, contact Peter A. Chapman at [email protected] by e-mail or (215) 945-7000 by telephone.
Title1
Plaintiffs'Lawyers Claims for Relief Relief Requested
2
Pre-TrialSummaryJudgmentProceedings Current Status
NextCalendarEvent
Continental Western
Insurance Companyv. The Federal
Housing Finance
Agency, et al., CaseNo. 14-cv-00042(S.D. Iowa filed Feb.5, 2014) (Pratt, J.;Walters, M.J.)
Charles J. Cooper
Vincent J.ColatrianoDavid H.ThompsonPeter A. PattersonCOOPER & KIRK,PLLC
Matthew G.
WhitakerMatt M.DummermuthKendra L. MillsArnoldWHITAKERHAGENOW &GUSTOFF, LLP
FHFA's conduct exceeds its
statutory authority asconservator
Violation of theAdministrative ProcedureAct: FHFA's conduct wasarbitrary and capricious
Treasury's conduct exceeded
its statutory authority
Violation of theAdministrative ProcedureAct: Treasurys conduct wasarbitrary and capricious
Breach of contract
Breach of implied covenantof good faith and fair dealing
Breach of fiduciary duty
Declaring that the Net Worth Sweep
and its adoption are [illegal]
Declaring that the . . . dividends toTreasury . . . violated HERA
Declaring that Treasurys post-2009payments to Fannie and Freddie . . .violate HERA
Vacating and setting aside the NetWorth Sweep, the dividends, andTreasury's post-2009 payments
Reducing the liquidation preferenceof the Government Stock;
Enjoining further dividend paymentsor tinkering with the accounting
Awarding Plaintiff damagesresulting from FHFAs breaches
FHFA's Motion
to Dismiss Filed(Doc. 23)
Treasury'sMotion toDismiss Filed(Doc. 24)
Motion to
Compelproduction ofAdministrativeRecord Denied.SeeDoc. 42.
AwaitingContinentalWestern's
Response toMotions toDismiss.
08/29/2014 --
ContinentalWestern toRespond toMotions toDismiss.
09/29/2014 --FHFA andTreasury to
Reply.
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____________________________________________________________________________________________________________________________________________________
This chart was prepared by Troubled Company Reporter and Class Action Reportereditors and posted at http://bankrupt.com/gselitigationsummary201408.pdf for the convenienceof those newsletters' subscribers. All rights reserved. Copyright 2014 Bankruptcy Creditors' Service, Inc., and Beard Group, Inc. Unaltered, this document may be
freely shared with anyone for any purpose. For additional information, contact Peter A. Chapman at [email protected] by e-mail or (215) 945-7000 by telephone.
Title1
Plaintiffs'Lawyers Claims for Relief Relief Requested
2
Pre-TrialSummaryJudgmentProceedings Current Status
NextCalendarEvent
Dennis v. Federal
Housing FinanceAgency, et al., CaseNo. 13-cv-01208(D.C. filed Aug 5,2013)
Reuben A. Guttman
Geoffrey C. JarvisGRANT &EISENHOFER
Breach of contract
Breach of the impliedcovenant of good faith andfair dealing
Breach of fiduciary duty
Class action certification,
appointment as Class Representative,and confirmation that this a properderivative action
Declaring that defendants breachedthe certificates of designation of theSeries S & T Preferred Stock. . . .
Awarding compensatory damages
Declaring that the Net Worth Sweepwas unfair to Fannie Mae, did notfurther any valid business purpose,did not reflect a good faith businessjudgment as to what was in the bestinterests of Fannie Mae or itsshareholders, and constituted wasteand a gross abuse of discretion
Declaring that, through the NetWorth Sweep, defendants breachedtheir respective fiduciary duties toFannie Mae
Awarding compensatory damagesand disgorgement in favor of FannieMae against defendants as a resultof their breach of their fiduciary
duties. . . .
Granting equitable relief, includingrescission of the Net Worth Sweep
Consolidated
into Misc. ActionNo. 13-mc-1288(D.C.)
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____________________________________________________________________________________________________________________________________________________
This chart was prepared by Troubled Company Reporter and Class Action Reportereditors and posted at http://bankrupt.com/gselitigationsummary201408.pdf for the convenienceof those newsletters' subscribers. All rights reserved. Copyright 2014 Bankruptcy Creditors' Service, Inc., and Beard Group, Inc. Unaltered, this document may be
freely shared with anyone for any purpose. For additional information, contact Peter A. Chapman at [email protected] by e-mail or (215) 945-7000 by telephone.
Title1
Plaintiffs'Lawyers Claims for Relief Relief Requested
2
Pre-TrialSummaryJudgmentProceedings Current Status
NextCalendarEvent
Dennis v. USA, Case
No. 13-542 (Ct. Fed.Cl. filed Aug. 5,2013)
Jay W. Eisenhofer
Geoffrey C. JarvisGRANT &EISENHOFERP.A.
Violation of the Takings
Clause
Class action certification
Awarding Plaintiff and the otherClass members just compensationfor the unconstitutional taking oftheir property, in an amount to beproven at trial. . . .
Consolidated
with Cacciapellev. United States,Case No. 13-672(Ct. Fed. Cl.)
Fairholme Funds,
Inc., et al. v. The
United States, Case
No. 13-465 (Ct. Fed.Cl. filed July 9,2013) (Sweeney, J.)
Charles C. CooperVincent J.Colatriano
David H.ThompsonPeter A. PattersonBrian W. BarnesCOOPER & KIRK,PLLC
Just compensation under theFifth Amendment for thetaking of private property for
public use
Awarding compensation under theFifth Amendment for theGovernment's taking of their
property
Government'sMotion toDismiss Filed
(Doc. 20)
[Briefingsuspendedpendingresolution ofjurisdictionaldiscoverydispute]
Documentproduction tooccur in waves,
subject toProtective Order(Docs. 72 and73)
Bi-WeeklyStatusConferencescontinue (Doc.
85)
09/05/2014 --Proposals duefor date by
whichjurisdictionaldiscoveryshould becompleted(Doc. 85).
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____________________________________________________________________________________________________________________________________________________
This chart was prepared by Troubled Company Reporter and Class Action Reportereditors and posted at http://bankrupt.com/gselitigationsummary201408.pdf for the convenienceof those newsletters' subscribers. All rights reserved. Copyright 2014 Bankruptcy Creditors' Service, Inc., and Beard Group, Inc. Unaltered, this document may be
freely shared with anyone for any purpose. For additional information, contact Peter A. Chapman at [email protected] by e-mail or (215) 945-7000 by telephone.
Title1
Plaintiffs'Lawyers Claims for Relief Relief Requested
2
Pre-TrialSummaryJudgmentProceedings Current Status
NextCalendarEvent
Fisher, et al. v. USA,
Case No. 13-608 (Ct.Fed. Cl. filed Aug.26, 2013) (Sweeney,J.)
Noah M. Schubert
Robert C. SchubertMiranda P. KolbeSCHUBERTJONCKHEER &KOLBE LLP
Edward F. HaberSHAPIRO HABER &URMY LLP
Derivatively on behalf of
FNMA:
Unlawful taking without justcompensation under the FifthAmendment to the U.S.Constitution
Derivatively on behalf of FNMA:
Finding that the United States hasunlawfully taken the private propertyof Fannie Mae for public use withoutjust compensation in violation of theTakings Clause of the FifthAmendment to the U.S. Constitution
Determining and awarding Fannie
Mae just compensation for theGovernment's taking of its property
Motion to
Dismiss Filed(Doc. 20)
Briefing
regarding themotion todismiss is stayedpending theconclusion ofjurisdictionaldiscovery inFairholme. Oncethe parties in
Fairholme file apost-discoveryjoint statusreport, the courtwill issue anorder in this caseregarding furtherproceedings. SeeDoc. 25.
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____________________________________________________________________________________________________________________________________________________
This chart was prepared by Troubled Company Reporter and Class Action Reportereditors and posted at http://bankrupt.com/gselitigationsummary201408.pdf for the convenienceof those newsletters' subscribers. All rights reserved. Copyright 2014 Bankruptcy Creditors' Service, Inc., and Beard Group, Inc. Unaltered, this document may be
freely shared with anyone for any purpose. For additional information, contact Peter A. Chapman at [email protected] by e-mail or (215) 945-7000 by telephone.
Title1
Plaintiffs'Lawyers Claims for Relief Relief Requested
2
Pre-TrialSummaryJudgmentProceedings Current Status
NextCalendarEvent
Liao v. Lew, et al.,
Case No. 13-cv-01094 (D.C. filedJuly 16, 2013)
Michael G.
McClellanL. KendallSatterfieldElizabeth R. MakrisFINKELSTEINTHOMPSON LLP
Lionel Z. GlancyMichael M.
GoldbergEx Kano S. Sams IIGLANCY BINKOW &GOLDBERG LLP
Illegal taking and/or
extraction in violation of theU.S. Constitution
Violation of theAdministrative ProceduresAct: the Treasury's conductexceeds its statutoryauthority under HERA
Violation of theAdministrative ProceduresAct: the Treasury's conductwas arbitrary and capricious
Violation of theAdministrative ProceduresAct: the FHFA's conductexceeds its statutoryauthority under HERA
Violation of theAdministrative ProceduresAct: the FHFA's conduct wasarbitrary and capricious
Determining that this is a proper
class action and certifying Plaintiffas a Class Representative. . . .
Finding that Defendants have takenand/or illegally exacted the privateproperty of Plaintiff and the Class inviolation of the Due Process andTakings Clauses of the United StatesConstitution
Declaring that the ThirdAmendment, and its adoption,[violate] HERA . . . ; and that theTreasury and the FHFA actedarbitrarily and capriciously . . . byexecuting the Third Amendment
Vacating and setting aside the ThirdAmendment including its provisionsthat sweep the full amount of theCompanies' net worth to theTreasury, that prevent redemption ofthe Government Preferred Stock, andthat accelerate the Companies'dissolution
Enjoining the Treasury [and theFHFA] . . . from implementing,
applying, or taking any actionwhatsoever pursuant to the ThirdAmendment
Consolidated
into Misc. ActionNo. 13-mc-1288(D.C.)
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____________________________________________________________________________________________________________________________________________________
This chart was prepared by Troubled Company Reporter and Class Action Reportereditors and posted at http://bankrupt.com/gselitigationsummary201408.pdf for the convenienceof those newsletters' subscribers. All rights reserved. Copyright 2014 Bankruptcy Creditors' Service, Inc., and Beard Group, Inc. Unaltered, this document may be
freely shared with anyone for any purpose. For additional information, contact Peter A. Chapman at [email protected] by e-mail or (215) 945-7000 by telephone.
Title1
Plaintiffs'Lawyers Claims for Relief Relief Requested
2
Pre-TrialSummaryJudgmentProceedings Current Status
NextCalendarEvent
Marneu Holdings
Co., et al. v. FederalHousing Finance
Agency, et al., CaseNo. 13-cv-01421(D.C. filed Sept. 18,2013)
Geoffrey C. Jarvis
GRANT &EISENHOFER P.A.
Jeremy A.LiebermanLesley F. PortnoyPatrick V.DahlstromPOMERANTZ
GROSSMANHUFFORDDAHLSTROM &GROSS LLP
Breach of Contract
Breach of the impliedcovenant of good faith andfair dealing
Violation of the APA --Treasury's and FHFA'sconduct exceeds its statutoryauthority
Violation of the APA --Treasury's and FHFA'sconduct was arbitrary andcapricious
Breach of fiduciary duty
Class certification
[D]amages [for] defendantsbreaches of contract and breaches ofthe implied covenant of good faithand fair dealing
[R]escission of the ThirdAmendment
Declaring that the Third Amendmentwas [un]fair to Fannie Mae andFreddie Mac, [and ha]d no[] validbusiness purpose . . . , andconstituted waste and a gross abuseof discretion.
Declaring that the Third Amendment[violates] HERA; and that Treasuryand FHFA acted arbitrarily andcapriciously . . . by executing theThird Amendment;
Declaring that . . . the FHFA and theTreasury breached their . . . fiduciaryduties to Fannie . . and Freddie . . .
Compensatory damages anddisgorgement in favor of Fannie Mae
and Freddie Mac against . . . FHFAand the Treasury, jointly andseverally . . . in an amount to beproven at trial, including interestthereon
Consolidated
into Misc. ActionNo. 13-mc-1288(D.C.)
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____________________________________________________________________________________________________________________________________________________
This chart was prepared by Troubled Company Reporter and Class Action Reportereditors and posted at http://bankrupt.com/gselitigationsummary201408.pdf for the convenienceof those newsletters' subscribers. All rights reserved. Copyright 2014 Bankruptcy Creditors' Service, Inc., and Beard Group, Inc. Unaltered, this document may be
freely shared with anyone for any purpose. For additional information, contact Peter A. Chapman at [email protected] by e-mail or (215) 945-7000 by telephone.
Title1
Plaintiffs'Lawyers Claims for Relief Relief Requested
2
Pre-TrialSummaryJudgmentProceedings Current Status
NextCalendarEvent
Perry Capital LLC v.
[Treasury Sec'y]Jacob J. Lew,
[Acting FHFA
Director] Edward
DeMarco, The
Department of the
Treasury, and The
Federal Housing
Finance Agency,
Case No. 13-cv-1025(D.C. filed July 7,2013) (Lamberth, J.)
Theodore B. Olson
Douglas R. CoxMatthew D. McGillMikesh JindalDerek S. LyonsJanet WeissGIBSON, DUNN &CRUTCHER LLP
Violations of the
Administrative ProcedureAct: (i) Treasury's conductexceeds its statutoryauthority under HERA, (ii)Treasury's conduct wasarbitrary and capricious, (iii)the FHFA's conduct exceedsits statutory authority underHERA, and (iv) the FHFA's
conduct was arbitrary andcapricious
Declaring that the Third Amendment
[is illegal]
Vacating and setting aside the ThirdAmendment, including [the] sweep,. . . that prevent redemption of theGovernment Preferred Stock, andthat accelerate the Companiesdissolution
Enjoining Treasury . . . fromimplementing . . . the ThirdAmendment
Enjoining the FHFA . . . fromimplementing . . . the ThirdAmendment
Treasury's
Motion toDismiss Filed(Doc. 31) andFHFA andFannie's Motionto Dismiss Filed(Doc. 32)
Cross-Motion
for SummaryJudgment onAdministrativeProcedure ActClaims (Doc. 37)
Plaintiffs'Opposition toMotions toDismiss (Doc.38)
Treasury'sOmnibus Reply(Doc. 40) andFHFA andFannie'sOmnibus Replies(Doc. 42, 43 and
44 )
Perry's Reply(Doc. 47)
Ready for
hearing anddecision on Pre-Trial SummaryJudgmentproceedings
As of June 5,
2014, hearingpostponeduntil furtherorder of theCourt.
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____________________________________________________________________________________________________________________________________________________
This chart was prepared by Troubled Company Reporter and Class Action Reportereditors and posted at http://bankrupt.com/gselitigationsummary201408.pdf for the convenienceof those newsletters' subscribers. All rights reserved. Copyright 2014 Bankruptcy Creditors' Service, Inc., and Beard Group, Inc. Unaltered, this document may be
freely shared with anyone for any purpose. For additional information, contact Peter A. Chapman at [email protected] by e-mail or (215) 945-7000 by telephone.
Title1
Plaintiffs'Lawyers Claims for Relief Relief Requested
2
Pre-TrialSummaryJudgmentProceedings Current Status
NextCalendarEvent
Rafter, et al. v. USA,
Case No. 14-740 (Ct.Fed. Cl. filed Aug.14, 2014 (Sweeney,J.)
Lawrence D.
RosenbergThomas F. CullenJames E. GauchPaul V. LettowJONES DAY
Just compensation under the
Fifth Amendment for thetaking of private property forpublic use
Derivative claim for breachof implied contract
Awarding Plaintiffs just
compensation under the FifthAmendment for the Government'staking of their property
Awarding to the Companiesdamages, rescission, disgorgement,equitable restitution or appropriaterelief for the United States' breach ofcontract
Awaiting answer
or other responseto complaint.
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____________________________________________________________________________________________________________________________________________________
This chart was prepared by Troubled Company Reporter and Class Action Reportereditors and posted at http://bankrupt.com/gselitigationsummary201408.pdf for the convenienceof those newsletters' subscribers. All rights reserved. Copyright 2014 Bankruptcy Creditors' Service, Inc., and Beard Group, Inc. Unaltered, this document may be
freely shared with anyone for any purpose. For additional information, contact Peter A. Chapman at [email protected] by e-mail or (215) 945-7000 by telephone.
Title1
Plaintiffs'Lawyers Claims for Relief Relief Requested
2
Pre-TrialSummaryJudgmentProceedings Current Status
NextCalendarEvent
Rafter, et al. v. The
Department of theTreasury, et al., CaseNo. 14-cv-01404(D.C. filed Aug. 15,2014) ([Lamberth],J.)
Thomas F. Cullen
Michael A. CarvinJames E. GauchPaul V. LettowJONES DAY
Violation of the
Administrative ProcedureAct: Exceeding StatutoryAuthority and Arbitrary andCapricious Conduct
Direct Claim for Breach ofFiduciary Duty underDelaware and Virginia Law
Direct Claim for Breach ofFiduciary Duty underDelaware and Virginia Law:Conversion of theGovernments SeniorPreferred Stock to CommonStock; Creation of ImproperSecurities
Claim under Delaware andVirginia Law forImproper Denial of Demandto Permit Inspection ofBooks and Records
Declaring that FHFA as conservator had
and has a duty under HERA to put theCompanies in a sound and solventcondition, carry on their business, and
preserve and conserve their assets andproperty
Declaring that the Net Worth SweepAgreements and the Net WorthSweeps [violate] HERA, and thatDefendants acted arbitrarily andcapriciously. . . .
Vacating the Net Worth SweepAgreements and rescinding the NetWorth Sweeps
Enjoining Defendants . . . from . . .taking any action [under] the Net WorthSweep Agreements. . . .
Enjoining Treasury . . . from exercising
control over FHFA in its capacity asconservator of Fannie Mae and FreddieMac, and declaring null and void any
provisions of the Stock PurchaseAgreements purporting to authorizeTreasury to do so
Declaring that Plaintiffs have the right toinspect the Companies stockholder lists
Ordering Defendants to make availableto Plaintiffs the Companies stockholderlists
Awaiting answer
or other responseto complaint.
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