The FHFA last week filed to intercede in the settlement (which was an odd settlement) between the Edwards plaintiffs and PWC. Yesterday, they dropped it (pdf)
Here is the proposed order:
STIPULATED VOLUNTARY DISMISSAL WITH PREJUDICE Plaintiffs Master Sgt. Anthony R. Edwards, USAF, Retired; Master Sgt. Salvatore Capaccio, USAF; Gator Capital Management, LLC; Perini Capital LLC; Allen Harden; Ed Bieryla; Doreen Bieryla; Jorge Zapata; Hiren Patel; Louise Strang; Johnna B. Watson; Melody Sullivan; Amit Choksi; Phil Miller; James Ferguson; Gordon Inman; Shaun Inman; Michael Carmody; Matt Hill; Joseph Waske; Maryam Moinfar; Wayne Olson; Rich Kivela; Chris Wossilek; and Matthew Reed; Defendant PricewaterhouseCoopers LLP; and Federal Housing Finance Agency hereby stipulate under Federal Rule of Civil Procedure 41(a)(1)(A)(ii) to the voluntary dismissal of this action, with prejudice, and with each party to bear its own Case 1:16-cv-21224-FAM Document 56 Entered on FLSD Docket 10/30/2016 Page 1 of 6 2 attorneys’ fees, costs, and other expenses.
Whereas FHFA asserts (though Plaintiffs dispute) that in its capacity as Conservator it has succeeded to all rights, titles, powers and privileges of the shareholders and it is the proper Plaintiff in this action, the parties and FHFA further stipulate that dismissal of this action also dismisses, with prejudice, any claim the FHFA may have in this action. This Stipulated Voluntary Dismissal with Prejudice supersedes the earlier-filed Stipulated Voluntary Dismissal with Prejudice filed on October 18, 2016 [D.E. 50].
So now one is filled with even more questions. First, why would Edwards plaintiffs seemingly settle for nothing? Did either side clue the FHFA into the settlement? If so, why would they filed brief essentially telling FHFA to piss off first? Why would they file a brief with the Judge saying the case was closed so he had nothing to consider? Did the FHFA really have their “concerns answered” as they claim or where they afraid of having to “prove” they should be included in talks via more discovery?
The whole thing is just odd……