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Investors Unite: We have not yet begun Fannie, Freddie fight

Housing Wire, By Trey Garrison

The judicial dismissal of a lawsuit brought in District Court by Perry Capital and Fairholme Funds is definitely a set back, but the shareholders fighting against the federal government’s sweep of profits from the GSEs say they are down, but not out – by a long shot.

A separate suit by Fairholme is still in discovery in Federal Claims Court.

“While we are not surprised that the government won the Perry/Fairholme case, we think this case made a stronger legal argument than the theory in the Fairholme Federal Claims Court case, so we think today’s decision is a bad sign for the Fairholme case,” said analysts for KBW Research.

Read full article: Investors Unite: We have not yet begun Fannie, Freddie fight