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Home » Store » Enforcement » Employees’ Suit vs. Fannie Over Retirement Losses Can Proceed

Employees’ Suit vs. Fannie Over Retirement Losses Can Proceed

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Enforcement

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A federal judge has allowed legal claims by current and former Fannie Mae employees over their employee stock ownership plan losses to proceed against several company directors including former CEO Daniel Mudd, as well as members of Fannie’s benefits plan committee. Lead plaintiffs Mary Moore and David Gwyer, who brought their claims against Fannie in 2009, seek compensation for losses on company stock that remained in employees’ retirement plans between April 2008 and May 2010. The government took over Fannie in September 2008 and put the GSE into conservatorship.
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