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LAWYERS DIVISION

Reagan Presidential Library from distance
2017 Annual Western Chapters Conference Audio and video now online!
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Inaugural Ohio Chapters Conference Friday, March 31, 2017

 
ABOUT THE LAWYERS DIVISION
The Federalist Society's Lawyers Division was founded in 1986 to bring together attorneys, business and policy leaders, judges and others interested in examining and improving the state of the law. The Lawyers Division reaches the legal community thr READ MORE
Litigation Practice Group Teleforum

During the 2008 financial crisis, Congress provided Fannie Mae and Freddie Mac with billions of dollars in emergency funds to keep them afloat, supplemented by the investments of private investors who bet that these entities would return to profitability. In 2012, just as Fannie and Freddie were indeed becoming profitable again, the Government instituted a "net worth sweep" that required them to remit to the government nearly all of their profits every quarter. Fannie and Freddie have paid the government over $246 billion so far. In the process, the stock was rendered virtually worthless. Investors filed myriad lawsuits as the net worth sweep came into effect. After four years of litigation and an initial dismissal by the district court, the D.C. Circuit has now largely affirmed but also sent key contract-based claims for monetary relief back to the district court for further review. This Teleforum discusses this historic litigation, its implications for the housing market and the proper role of the Government, and the investors' prospects for success on their claims.

Featuring:

  • John Carney, Editor, Breitbart News
  • Jason A. Levine, Litigation Partner, Vinson & Elkins LLP 
Litigation Practice Group Podcast

According to the Competitive Enterprise Institute, over 97% of mergers and acquisitions result in "strike suits," litigation seeking to enjoin a merger that often quickly settles for attorneys' fees and supplemental disclosures to shareholders. In In Re: Walgreen Co. Stockholder Litigation, 832 F.3d 718, a recent case over such a settlement, Judge Richard Posner called the practice a "racket," and the Seventh Circuit rejected the lawsuit’s claims. Meanwhile, Delaware and New York courts have come out on opposite sides of the issue.

Ted Frank of the Competitive Enterprise Institute, who successfully argued Walgreen and has multiple appeals on the subject pending in other jurisdictions, discussed developments in the area over the last year and answer questions.

Featuring:

  • Theodore H. Frank, Senior Attorney & Director, Center for Class Action Fairness (CCAF), CEI
Short video featuring Max Raskin

Is Bitcoin property or currency in a court of law? Max Raskin, Research Fellow at the Institute for Judicial Administration at NYU Law, discusses how Bitcoin fits into our laws and what it means for the future of virtual currency jurisprudence.