Judge: SEC Properly Pleaded Securities Claims Against Former Fannie Mae Execs

Judge: SEC Properly Pleaded Securities Claims Against Former Fannie Mae Execs

NEW YORK - The Securities and Exchange Commission has properly pleaded each of its federal securities law claims against three former Fannie Mae executives for allegedly misrepresenting the company's subprime exposure in violation of federal securities laws, a federal judge in New York ruled Aug. 10 in denying the defendants' motion to dismiss (Securities and Exchange Commission v. Daniel H. Mudd, et al., No. 11-9202, S.D. N.Y.). Subscribers may view the opinion available within the full Mealey's article.

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