{"id":5714,"date":"2014-10-30T00:00:00","date_gmt":"2014-10-30T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/10\/shareholders_settle_with_fanni"},"modified":"2022-05-06T12:02:51","modified_gmt":"2022-05-06T17:02:51","slug":"shareholders-settle-with-fanni","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/shareholders-settle-with-fanni\/","title":{"rendered":"Shareholders Settle with Fannie Mae for $170M"},"content":{"rendered":"<p>Fannie Mae (FNMA) and its shareholders have reached a $170M settlement in a lawsuit accusing the entity of misleading the plaintiffs about its risk management, finances, and mortgage exposure prior to its seizure by the U.S. government during the financial crisis of 2008. Now, a court must approve the agreement.<\/p>\n<p>The lead plaintiffs are the Tennessee Consolidated Retirement System, the State-Boston Retirement Board, and the Massachusetts Pension Reserves Investment Management Board, which are trying to obtain <a href=\"https:\/\/www.stockbroker-fraud.com\">class action securities status<\/a> for their case. The shareholders claim that Fannie Mae defrauded them, as well as inflated its stock via misleading and false statements about capitalization, internal controls, exposure to low-documentation \u201cAlt-A\u201d mortgages, subprime mortgages, and accounting.<\/p>\n<p>Per the agreement, $123.8 million would go to common stockholder and Preferred stockholders would get $46.2 million. The stockholders would come from the period running from 11\/8\/06 to 9\/5\/08. During that time, Fannie Mae\u2019s market value hit a peak of over $60 billion. Its current market value is $2.71 million.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/shareholders-settle-with-fanni\/\"  title=\"Continue Reading Shareholders Settle with Fannie Mae for $170M\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Fannie Mae (FNMA) and its shareholders have reached a $170M settlement in a lawsuit accusing the entity of misleading the plaintiffs about its risk management, finances, and mortgage exposure prior to its seizure by the U.S. government during the financial crisis of 2008. Now, a court must approve the agreement. The lead plaintiffs are the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3804,4001],"tags":[],"class_list":["post-5714","post","type-post","status-publish","format-standard","hentry","category-class-action-lawsuits","category-mortgage-fraud"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Shareholders Settle with Fannie Mae for $170M &#8212; Investor Lawyers Blog &#8212; October 30, 2014<\/title>\n<meta name=\"description\" content=\"Fannie Mae (FNMA) and its shareholders have reached a $170M settlement in a lawsuit accusing the entity of misleading the plaintiffs about its risk &#8212; October 30, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/shareholders-settle-with-fanni\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Shareholders Settle with Fannie Mae for $170M &#8212; 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