Freddie Mac Wins Dismissal of Securities Fraud Lawsuit
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Freddie Mac won’t have to face a lawsuit filed by investors accusing it of misrepresenting the state of its finances in 2007 and 2008, a federal judge ruled.
The investors failed to supply enough evidence that the McLean, Virginia-based mortgage-finance company and some of its senior managers intended to defraud them, U.S. District Judge John F. Keenan said in a ruling filed yesterday in Manhattan federal court.