High Court:  Investors’ Statutory Claims Barred By HERA’s Anti-Injunction Clause

Mealey's (June 23, 2021, 2:19 PM EDT) -- WASHINGTON, D.C. — In a divided opinion, the U.S. Supreme Court ruled June 23 that statutory claims brought by shareholders of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corp. (Freddie Mac) challenging Federal Housing Finance Agency’s (FHFA) authority as conservator for Fannie Mae and Freddie Mac under the Housing and Economic Recovery Act of 2008 to amend preferred stock purchase agreements between the FHFA and U.S. Department of Treasury are barred by the act’s “anti-injunction clause.”...