Judge Tosses Some Claims In Fannie Mae Suit

Law360, New York (August 1, 2007, 12:00 AM EDT) -- A judge has dismissed some of the claims in a lawsuit accusing Fannie Mae of engineering “a scandal of tremendous proportions” in which investors collectively lost $48 million as a result of the company’s alleged fraudulent financial disclosures.

In a ruling filed on Tuesday in the U.S. District Court for the District of Columbia, Judge Richard J. Leon dismissed the state law claims and some securities fraud accusations in the suit against some current and former members of Fannie Mae's board and audit committee and others....
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