5th Circ. Says Fannie Shareholder's Claim Belongs In CFC

Law360, Washington (June 20, 2017, 7:18 PM EDT) -- A Fannie Mae and Freddie Mac stakeholder who holds roughly $1 million in noncumulative preferred shares must bring his claims of regulatory taking related to the wind-down of the mortgage insurers in the Court of Federal Claims, the Fifth Circuit ruled Monday.

Michael Sammons had attacked on constitutional grounds the Tucker Act, which grants exclusive jurisdiction to the CFC over all claims against the government in excess of $10,000, claiming the law violates Article III of the Constitution by giving the CFC, an Article I court,...
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Case Information

Case Title

Michael Sammons v. USA


Case Number

17-50201

Court

Appellate - 5th Circuit

Nature of Suit

2440 Other Civil Rights

Date Filed

March 14, 2017

Companies

Government Agencies

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