In response, the shareholders told the jurors that the officials of the companies failed to provide the shareholders with any sort of information regarding the stock alteration or its consequences. The shareholders were told nothing about the stake of the company or the alterations to the agreement. While on the stand, Former Director of Federal Housing Finance Agency, Edward DeMarco, admitted that the officials didn’t even consult their own accountants or economists before they decided to make the alterations in 2012.
After the alterations, by the middle of 2012, both Freddie Mac and Fannie Mae were already showing significant signs of turn-around and profit. Along with the increase in profits, the U.S. Treasury’s Department’s investments also increased. In 2008, The Treasury put nearly $192 billion into an investment, and in return received over $385 billion.
This deadlock is not the first time the jury has returned without a decision, and an attorney for the shareholders filed a motion for a mistrial. This was rejected. The jury will return on Monday, November 7, 2022.