Fannie Mae and the State of Ohio today filed a settlement agreement with the U.S. District Court for the District of Columbia to resolve a nine year-long class action lawsuit relating to alleged securities law violations. The filing was submitted to the Honorable Judge Richard J. Leon, who has overseen the case.
"Judge Richard Leon urged Fannie Mae and the State of Ohio, the parties to the case, to enter mediation. The parties agreed and that mediation led to the settlement which was submitted to the Court today. The settlement represents a reasonable agreement to end this long standing dispute. The matter is now before Judge Leon for review pursuant to the legal process contemplated under rules of the District Court."
The settlement agreement filed with the District Court is entitled Stipulation of Settlement of Securities Action, In re Fannie Mae Securities Litigation, Civil Action No. 04-1639 (RJL).
Contacts:
Corinne Russell (202) 649-3032 / Stefanie Johnson (202) 649-3030