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Court Grants Fairholme's Discovery Motion In Fannie, Freddie Suit

Comments

  • ShostakovichShostakovich
    I'm assuming this lawsuit will be paid for out of fund expenses if Uncle Sam prevails?
  • beebee
    Another case of risk / reward. I like my chances as a Fairholme shareholder verses othe class action suits that purposely get lawyers rich while shareholders receive crumbs.
  • PRESSmUPPRESSmUP
    So the government claims Fannie may not be profitable, and needs to stay in conservatorship.

    BB says otherwise, and the court agrees to allow for discovery.

    As an FYI...this comes right after FNMA reported $84 billion in profits last year...and has fully repaid the government.
  • beebee
    I like his shareholders chances for some kind of compensation verses other lawyer suits (class action).
  • STB65
    Will probably wish I'd let more ride with Bruce as this plays out. If the gov't and taxpayers are now made whole plus, it's harder to see why investors who accepted risk aren't rewarded.
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