$FNMA BBerg updates

Fannie-Freddie shareholders, including Fairholme, and the U.S. government will continue engaging in jurisdictional discovery in the Court of Federal Claims until the end of June, making a ruling on the U.S. dismissal bid possible in 4Q. The discovery helps the shareholders challenge a Fannie-Freddie bailout amendment, making dismissal less likely than in related suits. The parties will finish filing briefs when this discovery ends and will likely have oral argument as well before the court issues a ruling.

Companies Impacted: Fairholme, Continental Western and units of W.R. Berkley are Fannie-Freddie shareholders impacted as parties to the suit. Pershing is among other shareholders suing in the same court.