Fannie Mae FNM Securities Stock Fraud

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Company: Fannie Mae
Ticker Symbol: FNM
Class Period: Nov-16-07 to Sep-5-08
Date Filed: Sep-8-08
Lead Plaintiff Deadline: Nov-7-08
Court: Southern District of New York
A sercurities class action suit has been filed on behalf of those who held publicly traded securities of Fannie Mae between November 16, 2007 and last Friday, before the federal government took over the company.

Defendants in the suit are Stephen Ashley, chairman of Fannie's board; Daniel Mudd, Fannie's president and chief executive officer; Stephen Swad, Fannie's ex-chief financial officer; and Robert Levin, formerly the company's executive vice president and chief business officer. The complaint alleges that Fannie's publicly disclosed financial results misrepresented the financial health of the company, and that the defendants either made false statements or failed to disclose the truth to investors. As a result, says the complaint, the defendants' "fraudulent scheme" was successful in deceiving the public, artificially inflating the prices of publicly traded Fannie Mae stock, and causing class members to buy Fannie stock at those inflated prices.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Fannie Mae FNM Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Fannie Mae securities class action lawsuit. Please fill in our form on the right to submit your complaint for a free evaluation.

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