Judge OKs $7M Settlement In Fannie Mae ERISA Case

Law360, New York (June 7, 2010, 4:10 PM EDT) -- A judge has preliminarily approved a $7.25 million settlement of litigation alleging Fannie Mae's retirement plan violated the Employee Retirement Income Security Act by investing in company stock.

Judge Richard J. Leon of the U.S. District Court for the District of Columbia on Friday also preliminarily certified a settlement class and approved plaintiffs firm Harwood Feffer LLP as lead counsel for the class, Judge Leon said.

The class consists of all current and former participants and beneficiaries of the retirement plan whose plan accounts included investments...
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