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Volume 14 - Number 22

October 31, 2014

Shareholders Announce $170M Legal Settlement with Fannie

Fannie Mae will pay $170 million to certain investors to settle a consolidated class-action lawsuit that alleges the GSE misrepresented its exposure to subprime loans in the run up to the 2008 mortgage crisis. The lead plaintiffs in the case include the Massachusetts Pension Reserves Investment Management Board and State Boston Retirement Board, which represent a class of common stockholders. The Tennessee Consolidated Retirement System represents a class of preferred stockholders.

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This biweekly covers the housing-related government-sponsored enterprises with experienced, expert analysis.

 

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