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Pension Fund Named Lead Plaintiff In Freddie Suit

Law360 (November 25, 2008, 12:00 AM EST) -- A multistate pension fund has beat out North Carolina state Treasurer Richard Moore and the police retirement system of the city of Austin, Texas, to serve as lead plaintiff in a proposed securities class action against Freddie Mac.

Judge John F. Keenan of the U.S. District Court for the Southern District of New York ruled Monday that although Moore's office had the largest financial stake in the action, it was not the most adequate entity to represent the class.

Instead, Keenan appointed the Central States, Southeast...
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