Securities Litigation: Freddie Mac 2007

Reimer v. Federal Home Loan Mortgage Corporation et al
USDC SD New York
Mortgage Lending

Company background

Litigation background

Lead plaintiffs

SEC disclosure

Freddie Mac 10-Q 8.06.08
Putative Securities Class Action Lawsuits. Reimer vs. Freddie Mac, Syron, Cook, Piszel and McQuade (Reimer) and Ohio Public Employees Retirement System vs. Freddie Mac, Syron, et al (OPERS). Two virtually identical putative securities class action lawsuits were filed against Freddie Mac and certain of our current and former officers alleging that the defendants violated federal securities laws by making false and misleading statements concerning our business, risk management and the procedures we put into place to protect the company from problems in the mortgage industry. Reimer was filed on November 21, 2007 in the U.S. District Court for the Southern District of New York and OPERS was filed on January 18, 2008 in the U.S. District Court for the Northern District of Ohio. On March 10, 2008, the Court in Reimer granted the plaintiffs request to voluntarily dismiss the case, and the case was dismissed. In OPERS, on April 10, 2008, the court appointed OPERS as lead plaintiff and approved its choice of counsel. The plaintiff is seeking unspecified damages and interest, and reasonable costs and expenses, including attorney and expert fees. At present, it is not possible to predict the probable outcome of the OPERS lawsuit or any potential impact on our business, financial condition, or results of operations.

Claims Dismissed

Complaint

Order

Lead Plaintiff and Counsel

Motion to appoint

Lead plaintiff

Company defense

// This display the document title in the html page document.write(document.title);