Messrs. Jacobs and Hindes filed their Response with the JPMDL this afternoon, and a copy is attached to this e-mail message. Messrs. Jacobs and Hindes also oppose the FHFA’s transfer and consolidation request. FHFA’s motion, they say, “is not an effort to streamline litigation in multiple forums, but rather is a blatant attempt to shop for a forum that has already issued rulings purportedly favorable to FHFA, but where no related case is actually ending.” In short, Messrs. Jacobs and Hindes tell the MDL Panel, the common questions of fact the FHFA wants to see don’t exist. Accordingly, transfer and consolidation of the pending cases challenging the Net Worth Sweep is inappropriate, and FHFA’s motion should be denied. Messrs. Jacobs and Hindes would support informal coordination for discovery purposes, but observe that’s already happening. In all events, Messrs. Jacobs and Hindes tell the MDL Panel, the District of Columbia is the worst venue in which to consolidate Third Amendment Litigation cases under every applicable standard previously articulated by the JPMDL.MDL 2713-0021
