U.S. Judge Rebuffs Shareholder Attempt to Claim GSE Profits
February 13, 2015
A U.S. district court judge in Iowa recently dismissed a shareholder motion to vacate an amended agency agreement requiring Fannie Mae and Freddie Mac to pay nearly all their quarterly profits to the Treasury equal to their net worth. Filed by Continental Western Insurance Company, the lawsuit is similar to another case, Perry Capital, Inc. v. Lew, filed by the plaintiff’s parent, Berkley Regional Insurance Co., and Berkley Insurance Co. against the Federal Housing Finance Agency…