Weekly Brief: BoA Sued; SCOTUS Shortlists; Fund Fights Argentina
On October 12, the U.S. Court of Appeals for the Fifth Circuit affirmed dismissal of Fannie Mae and Freddie Mac shareholders’ claims that the FHFA’s unconstitutional removal restriction caused them harm and that the FHFA’s...more
In what is now the second largest bank failure in United States history, the California Department of Financial Protection and Innovation closed embattled San Francisco-based First Republic Bank shortly after midnight...more
On October 28, 2022, Vice Chancellor Morgan T. Zurn of the Delaware Court of Chancery ruled that the declaratory action brought by Buzzfeed Inc. against 91 current and former employees is not bound by arbitration provisions...more
IN THIS ISSUE - Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit; Federal Court of Appeals Dismisses Leading Fannie Mae and Freddie Mac Shareholder Lawsuits; NY Seeks Blockchain...more
In Collins v. Yellin (previously captioned Collins v. Mnuchin), the U.S. Supreme Court, relying on its decision in Seila Law, held that the Federal Housing Finance Agency’s structure was unconstitutional because the Housing...more
The United States Supreme Court ruled on June 24, 2021, in Collins v. Yellin that a restriction on the President’s power to remove the director of the Federal Housing Finance Agency at will is unconstitutional as a violation...more
In its decision earlier this week in Collins v. Yellin (previously captioned Collins v. Mnuchin), the U.S. Supreme Court, relying on its decision in Seila Law, held that the Federal Housing Finance Agency’s structure is...more
On June 23, 2021, the Supreme Court of the United States (“Supreme Court”) ruled that the director of the Federal Housing Finance Agency (“FHFA”) must be removable and that the tenure protections put in place by the 2008...more
On June 23, 2021, the U.S. Supreme Court decided Collins v. Yellin, holding that: (1) shareholders could not bring a claim that the Federal Housing and Finance Agency (FHFA) violated the Housing and Economic Recovery Act of...more
On July 16, 2018, in Collins et al. v. Federal Housing Finance Agency et al. (No. 17-20364), a Fifth Circuit panel ruled that the single-director structure of the Federal Housing Finance Agency (FHFA) is unconstitutional. The...more
Can shareholders of a government-sponsored enterprise successfully challenge the constitutionality of a government takeover of the entity? Shareholders of Fannie Mae and Freddie Mac will try to do so in a $41 billion class...more