Freddie Mac Asks 2nd Circ. To Affirm Toss Of Investor Suit

Law360, New York (May 15, 2013, 3:28 PM EDT) -- Freddie Mac on Tuesday urged the Second Circuit to affirm the dismissal of a proposed class action accusing it of misleading investors, saying a trial judge properly found the government-backed mortgage buyer did not conceal facts that, once revealed, caused investor losses.

The appeals court, Freddie Mac said in a brief, should reject the plaintiffs' argument that U.S. District Judge John F. Keenan "misperceive[d] the nature and scope of information that may plausibly constitute a disclosure of the relevant truth regarding defendants' misstatements." The judge in...
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