Fannie Mae Can't Kick Workers' Suit Over Dwindled Stock Plans

Law360, New York (October 22, 2012, 11:10 PM EDT) -- A New York federal judge on Monday trimmed a putative class action against Fannie Mae and some of its directors over the catastrophic blow employee stock option plans took after the housing crisis, but allowed the workers to proceed with other claims against the erstwhile mortgage finance giant.

U.S. District Judge Paul A. Crotty partly granted the defendants’ motion to dismiss, releasing from the suit directors who had become board members after Fannie Mae was put in conservatorship in 2008. The judge also cut the workers'...
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Case Information

Case Title

In Re: Fannie Mae Securities and Employee Retirement Income Security Act (ERISA) Litigation


Case Number

1:09-md-02013

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Paul A. Crotty

Date Filed

February 12, 2009

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