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Judge Rules Against Federal Housing Finance Agency

Financial Buzz

July 24, 2014

 

Fairholme Funds was awarded a great victory when Judge Margaret Sweeney ruled that there should be broad access in terms of discovery to the FHFA records that go back for a long time. The ruling swept aside the narrow 2012 period which the FHFA desired to restrict the discovery to. 

Historical judgment

The Judge also disallowed the FHFA argument that the concerned court lacks authority when it comes to affecting the FHFA functions or powers. She reminded the agency of not being outside the purview of US law. Fairholme Funds is regarded as entry point for GSE shareholders and Investors Unite who are suing against FHFA.

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