Federal National Mortgage Association FNM Securities Stock Fraud

Company:	Federal National Mortgage Association
Ticker Symbol:	FNM
Class Period:	Apr-17-07 to Nov-10-08
Date Filed:	Nov-10-08
Lead Plaintiff Deadline:	Jan-9-09
Court:	District of Columbia
Allegations:

A class action has been commenced against Federal National Mortgage Association ("Fannie Mae") for violations of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"). The Complaint was filed in the United States District Court for the District of Columbia on behalf of a class of all persons who were participants in or beneficiaries of the Employee Stock Ownership Plan (the "Plan" or the "ESOP") between April 17, 2007 and the present (the "Class Period") and whose accounts included investments in Fannie Mae common stock.

The Complaint alleges that certain Defendants, each having certain responsibilities regarding the management and investment of Plan assets, breached their fiduciary duties to the Plan and proposed Class by failing to prudently and loyally manage the Plan's investment in Company securities by: 1) continuing to invest Plan assets in Fannie Mae common stock when it was imprudent to do so; and 2) maintaining the Plan's pre-existing investments in Fannie Mae equity when Company stock was no longer a prudent investment for the Plan.

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.

Federal National Mortgage Association 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 Federal National Mortgage Association securities class action lawsuit. Please fill in our form on the right to submit your complaint for a free evaluation.