Industry News

Freddie Mac to pay $410 million in lawsuit settlements

Expects settlements to ding Q1 earnings by $220 million
Published on Apr 21, 2006

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by CareyBot

Secondary mortgage giant Freddie Mac has agreed to pay $410 million to settle securities class-action and shareholder derivative lawsuits stemming from accounting mistakes that led the company to restate three years of earnings. The settlement is expected to reduce first-quarter ...