What are the details of the SECs Settlement with Fannie Mae?
The U.S. Securities and Exchange Commission (“SEC”) alleged that between 1998 and 2004, Fannie Mae issued materially false and misleading financial statements in various reports and in filings with the SEC. You can read the Complaint filed by the SEC against Fannie Mae at the Case Documents link of this website. As part of the resolution of these claims, Fannie Mae previously paid approximately $350 million into the SEC Fannie Mae Settlement Fund. On April 16, 2007, United States District Court Judge Richard J. Leon approved a plan for distributing the Settlement Fund to select Fannie Mae investors that suffered losses during the Recovery Period — January 14, 1999 through the close of markets on December 22, 2004. (the “Distribution Plan”). The Distribution Plan provides that eligible investors whose valid Proof of Claim Forms were received on or before July 26, 2007, are entitled to receive compensation from the Settlement Fund. The investor claims procedure and payment on claims will
