JPML Won't Merge Excise Tax Suits Against Fannie, Freddie

Law360, New York (September 28, 2012, 4:30 PM EDT) -- The U.S. Judicial Panel on Multidistrict Litigation on Thursday declined a request to transfer and combine 10 suits lodged against mortgage giants Fannie Mae and Freddie Mac over allegedly dodging property-related excise taxes in real estate deals.

A panel denied the transfer of the actions, which are spread across seven districts, noting that because the disputes are largely tied to factual questions that are “neither numerous nor complex,” it would not serve the courts' interests to combine them. It added that procedural efficiencies gained from consolidating...
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