Tuesday, October 31, 2023 12:30:07 PM
District of Columbia (In re Fannie Mae/Freddie Mac Senior Preferred Stock Purchase Agreement Class Action
Litigations and Fairholme Funds v. FHFA). Fannie Mae is a defendant in two cases in the U.S. District Court for the
District of Columbia, including a consolidated class action. The cases were consolidated for trial, and on August 14,
2023, the jury returned a verdict for the plaintiffs and awarded damages of $299.4 million to Fannie Mae preferred
shareholders. On October 24, 2023, the court awarded these shareholders prejudgment interest on the damage award,
to be determined as simple interest, accruing from August 17, 2012 until the date on which judgment is entered at a
fixed rate of 5% over the Federal Reserve discount rate as of August 17, 2012. We have determined the prejudgment
interest through September 30, 2023 is $192 million. See “Note 13, Commitments and Contingencies” for additional
information.
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