Does anyone know about this Class Action scheduled for trial in October of 2024? It is at the District Court level in the 6th Circuit. From FMCC 10Q
Putative Securities Class Action Lawsuit: Ohio Public Employees
Retirement System vs. Freddie Mac, Syron, Et Al.
This putative securities class action lawsuit was filed against Freddie Mac and certain former officers on January 18, 2008 in the
U.S. District Court for the Northern District of Ohio purportedly on behalf of a class of purchasers of Freddie Mac stock from
August 1, 2006 through November 20, 2007. FHFA later intervened as Conservator, and the plaintiff amended its complaint on
several occasions. The plaintiff alleged, among other things, that the defendants violated federal securities laws by making false
and misleading statements concerning our business, risk management, and the procedures we put into place to protect the
company from problems in the mortgage industry. The plaintiff seeks unspecified damages and interest, and reasonable costs
and expenses, including attorney and expert fees.
In August 2018, the District Court denied the plaintiff's motion for class certification. On April 6, 2023, the Sixth Circuit reversed
the District Court's September 17, 2020 decision to grant the plaintiff's request for summary judgment and enter final judgment
in favor of Freddie Mac and other defendants. The Sixth Circuit remanded the case to the District Court for further proceedings.
The District Court scheduled the trial to begin on October 21, 2024.
