Freddie Mac Can't Duck Suit Over Subprime Exposure

Law360, New York (May 25, 2012, 6:41 PM EDT) -- A federal judge on Friday declined to dismiss a proposed securities class action brought by the Ohio Public Employees Retirement System against Freddie Mac over the housing entity's alleged failure to disclose its true subprime exposure, saying the plaintiffs properly stated their claims.

Freddie Mac, along with its former former president and Chief Operating Officer Eugene M. McQuade and executive vice president and Chief Financial Officer Anthony S. Piszel — also named defendants — had asked claims against them be dismissed because OPERS had failed to...
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