Relying on sec. 4617 of HERA, FHFA asks the Court to substitute it for the shareholder-plaintiffs suing PricewaterhouseCoopers in Florida. FHFA’s argument is that under HERA the Congress conveyed all shareholder rights to FHFA when Freddie Mac was placed into conservatorship, now only FHFA has standing to sue Deloitte, and allowing shareholders to sue would violate HERA’s prohibition on shareholder lawsuits. A copy of FHFA’s filing is attached to this e-mail message.16-cv-21224-0007
FHFA supports Deloitte’s request to stay the Florida shareholder litigation and, relying on sec. 4617 of HERA, asks the Court to substitute it for the shareholder-plaintiffs suing Deloitte. FHFA’s argument is that under HERA the Congress conveyed all shareholder rights to FHFA when Fannie Mae was placed into conservatorship, now only FHFA has standing to sue Deloitte, and allowing shareholders to sue would violate HERA’s prohibition on shareholder lawsuits. A copy of FHFA’s filing is attached to this e-mail message.16-cv-21221-0009