SEC Stalls On Answering Subpoena In Fannie Mae Suit

Law360, New York (September 2, 2009, 12:52 PM EDT) -- The U.S. Securities and Exchange Commission has asked for more time to respond to a petition and subpoena calling on its former chief accountant to testify in a suit brought by investors alleging Fannie Mae made misleading financial statements.

The SEC filed a motion Tuesday asking the U.S. District Court for the District of Columbia to stay its consideration of a motion from lead plaintiffs in the Fannie Mae investor suit compelling compliance with a deposition subpoena issued to former SEC Chief Accountant Donald Nicolaisen. His...
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