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Government--unilaterally amended the Treasury's senior preferred stock agreements to grant the Government the right to receive all of Fannie and Freddie's profits and net worth as dividends (or as a liquidation preference).
Plaintiffs allege that the Government's unilateral amendment of the senior preferred stock agreements constitutes a "taking" under the Fifth Amendment to the US Constitution requiring payment of just compensation.
53 and other terms as defined by the Series B Preferred Stock agreements dated November 14, 1997.
While we regret having to take this action, it is absolutely necessary to avoid a possible conversion deficiency and default under the Convertible Preferred Stock agreements," stated Phillips W.
00 pursuant to the terms of Convertible Debt and Preferred Stock Agreements.
Nasdaq: AMBI) announced that it had revised the terms of its convertible preferred stock agreements, and that its publicly traded warrants had expired.
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