Investors Aim To Mow Down Farmer Mac

Law360, New York (December 9, 2008, 12:00 AM EST) -- Investors in the Federal Agricultural Mortgage Corp. have filed a proposed class action against the government-sponsored entity, better known as Farmer Mac, alleging that its failure to report exposure to Fannie Mae preferred stock and Lehman Brothers Holdings Inc. debt securities led to steep stock losses when the exposure came to light.

In a suit filed Friday in the U.S. District Court for the District of Columbia, the investors claim that Farmer Mac did not reveal their exposure to the two failing financial titans before both...
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