SEC Discovery Needed in Freddie Mac Class Action: Judge

Law360, New York (January 23, 2012, 6:43 PM EST) -- An Ohio federal judge said Monday that new information from the U.S. Securities and Exchange Commission's enforcement action against Freddie Mac must be considered in a separate securities fraud class action accusing the mortgage giant of concealing its exposure to subprime mortgages.

U.S. District Judge John R. Adams denied Freddie Mac's motion to dismiss the suit brought in 2008 by the Ohio Public Employees Retirement System on behalf of all investors who bought Freddie Mac stock between August 2006 and November 2007, agreeing with the investors...
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