Monday, January 20, 2014

FnF shareholder's noconfidence vote on Conservator

zyxvy8765  Nov 17, 2013 9:59 AM Flag

How about FnF shareholder's noconfidence vote on Conservator

All shareholders of FnF call for a shareholder meeting and
1. pass no confidence vote on Conservator
2. pass a resolution terminating Conservator-ship
3. appoint a board of directors to represent shareholders

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By the security rule, shareholders of a listed company are entitled to have the rights of approving or disapproving any move or policy that affects the operations of the company. Obviously, imposing the conservatorship on the company without the shareholders' approval is a law-breaching move perpetrated by the fed government.

The agreement that was "extorted" out of the prior fandf mgmt / bod - suspended our "right" to have annual meetings.... sorta like it was never agreed to by the shareholders to start with. Essentially, our rights were usurped without our permission.

FnF should sue Demarco, personally, for violating his fiduciary duties as the conservator of FnF. Demarco should be completely wiped out financially.

You are correct. Same thing happened to employee of countrywide (BOA law suite).
He has violated laws to deprive shareholders of their constitutional rights.
Shareholders did not commit any wrong to forfeit their constitutional rights.
FnF have become prisoners with no rights and no trial under dictator masquerading
as a conservator.

the common shareholders own 100% ... what you refer to is a myth. The 79.9% warrants are bogus. (also 100% - less - 79.9 = 20.1 not 20.9 anyway) Mo.

All minority shareholders have legal rights to sue majority shareholders for violation of fiduciary responsibilities. 

In FnF case USG has 0 (ZERO) % common shares and has 0 (ZERO) % voting rights

Even though this may not have enforceability, it is admissible in lawsuits.

At this stage shareholders need Board of Directors to represent their interest, 
since Conservator 
1. has not only failed to protect the interests of shareholders as
required under fiduciary responsibilities, 
2. but has acted to undermine the viability of FnF and has been
trying to destroy the value of shareholders.
3. Also Conservator's actions/intentions are not be in the interest of 
general public and the nation.

We need some one to take leadership and initiate action in this direction.
May be large shareholding MF/HF managers start on this.

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