Ruotolo v. Fannie Mae

U.S. DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
Real Property

New York Law Journal

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Judge Kenneth Karas

Pro se plaintiff Angelo Ruotolo sued Fannie Mae after he attempted to purchase a home in foreclosure. He contended Fannie Mae engaged in an unlawful antitrust conspiracy and violated various federal statutes. The court granted Fannie Mae's motion to dismiss, reasoning that plaintiff had not pleaded facts that plausibly showed that Fannie Mae had a conscious commitment to a common scheme designed to achieve an unlawful objective. Further the court found that plaintiff's complaint contained no specific allegations regarding property sales not involving plaintiff. The court noted that plaintiff's scope of conspiracy was very ill-defined because his claims were both at times quite individualized and exceedingly far-ranging. The court also found that plaintiff's antitrust claims failed because the alleged damages were related solely to the potential rental income that he supposedly lost and failed to allege how the conspiracy harmed competition as a whole. Plaintiff's federal statutes claims were also dismissed because he failed to serve the proper government institutions, and he did not have a private right of action.

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