Earlier this month, Gibson Dunn & Crutcher's Theodore Olson made headlines when he filed a lawsuit accusing the federal government of blocking private stockholders of Fannie Mae and Freddie Mac from getting their fair share. Since then, more than a half dozen plaintiffs firms have gotten into the game, filing related cases in Washington's federal district court and in the U.S. Court of Federal Claims.
The cases challenge an August 2012 agreement between the conservator of Fannie and Freddie—the Federal Housing Finance Agency—and the U.S. Department of Treasury that changed the structure of preferred stock purchase agreements held by Treasury.
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