In re Fannie Mae Securities Litigation

by Heins Mills & Olson on August 7, 2013

Defendants Federal National Mortgage Association ("Fannie Mae"), KPMG LLP ("KPMG"), and the Federal Housing Finance Agency ("FHFA") have entered into a settlement agreement with Plaintiffs in In re Fannie Mae Securities Litigation. The Complaint alleges that these Defendants publicly issued materially false and misleading financial reports and other statements that artificially inflated the price of Fannie Mae's securities. Under the proposed settlement, which is subject to court approval, these Defendants have agreed to pay $153 million in cash.