Investors Win Broad Discovery In Fannie Mae Suit

Law360, New York (August 22, 2011, 2:38 PM EDT) -- A New York federal judge on Friday refused to limit discovery for investors in multidistrict litigation alleging Fannie Mae misled them about its management of subprime mortgage risk in relation to several stock offerings.

Fannie Mae had argued that discovery should be limited to information surrounding a narrow set of events, and asked that plaintiffs only be allowed to look into its "credit risk management" program, rather than a broader swath of risk management and controls as they pertain to underwriting standards or losses in connection...
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