We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.