The U.S. 7th Circuit Court of Appeals ends Federal National Mortgage Association and Federal Home Loan Mortgage Corporation Shareholders' Suit (Christopher Roberts, et al v. FHFA, et al (17-1880)), Opinion by ARNOLD F. SOCK, Attorney at Law
Two Federal National Mortgage Association and Federal Home Loan Mortgage Corporation shareholders who accused the Federal Housing Finance Agency and the U.S. Department of the Treasury of siphoning the companies’ profits into government coffers can’t revive their claims, the Seventh Circuit said on Thursday, finding that the two agencies had the statutory authority to do so. (U.S. 7th Circuit Court of Appeals Christopher Roberts, et al v. FHFA, et al (17-1880))
In a published opinion that affirmed an Illinois U.S. District Court’s decision tossing Christopher Roberts and Thomas Fischer’s complaint, a three-judge panel said the pair had little grounds to challenge the agencies’ decisions on certain matters. A lawsuit has to be carefully crafted and researched to make sure the claim sought to be proved can meet the standards and elements required to obtain a judgment in favor of the plaintiffs. Opinion by ARNOLD F. SOCK, Attorney at Law.