Our Experience

In re Fannie Mae Securities Litigation; and In re Fannie Mae Derivative Litigation

  • Practice Area(s): Litigation, Class Actions, Complex Civil Litigation, Government Enforcement, White Collar
  • Attorney(s): Krakoff, David S.; Regan, Christopher F. ; Miller, Adam; Randell, Lauren R.
  • Case Date(s): 2004
  • Court: D.D.C.
  • Judge: Leon, Richard J.
  • State: Dist. of Columbia
  • Docket No. 1:04-CV-01639-RJL; 1:04-CV-01783-RJL; 1:04-CV-00784-JR

Representation of the former Controller of Fannie Mae in investigations and litigation related to the restatement first announced by the Company in 2004. The representation has included internal investigations, Department of Labor, Department of Justice and Securities and Exchange Commission investigations; an enforcement action brought by the Office of Federal Housing Enterprise Oversight (now known as the Federal Housing Finance Agency); and related ERISA, Derivative and Securities Class Action litigation. The DOL, DOJ and SEC investigations concluded without claims being filed. We obtained a favorable settlement of the OFHEO enforcement action without an admission of liability. The ERISA litigation settled and the Derivative matters were dismissed, with appeals pending. The Securities Class Action litigation is in the expert discovery phase and could go to trial in 2012 depending on the outcome of summary judgment motions.