Fannie Mae Fraud Plaintiffs Get Partial Victory

Law360, New York (January 8, 2008, 12:00 AM EST) -- Investors suing home lender Fannie Mae over an alleged securities fraud scheme have partially prevailed in their bid for class status, with a federal judge agreeing to certify the action but eliminating many would-be class members.

In his order Monday Judge Richard J. Leon of the U.S. District Court for the District of Columbia agreed to certify the class as purchasers of Fannie Mae stock and sellers of the lender's options between April 2001 and December 2004, shaving a year off the proposed class period....
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