$153M Fannie Mae, KPMG Fraud Class Settlement Wins Nod

Law360, New York (December 6, 2013, 4:46 PM EST) -- A D.C. federal judge approved a $153 million class action settlement Friday for investors who accused housing giant Fannie Mae and accounting firm KPMG LLP of putting out misleading financial reports, the largest such settlement in the D.C. Circuit since 1996.

U.S. District Judge Richard J. Leon said the deal, which includes about $29 million in attorneys' fees and expenses for the investors' counsel, "easily" cleared the bar for approval and was a better deal for the investors, who were led by two Ohio state pension...
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