Mealey's Securities/D&O Liability - First Horizon To Pay $110M To Settle Securities Lawsuit With FHFA

NEW YORK - First Horizon National Corp., certain of its subsidiaries and others will pay $110 million to settle claims that they violated state and federal securities laws in misrepresenting the investment quality of nearly $883 million in residential mortgage-backed securities that were sold to Fannie Mae and Freddie Mac (collectively, government-sponsored agencies or GSEs), the Federal Housing Finance Agency (FHFA) announced April 29 (Federal Housing Finance Agency v. First Horizon National Corp., No. 11-6193, S.D. N.Y.).

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