Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Saturday, April 21, 2007

Plenty of Blame to Go Around

Last December Fannie Mae sued its former auditor KPMG for malpractice, seeking to recover the millions it paid in auditing fees during the period when Fannie Mae's financial statements misstated its financial position.  This week KPMG sued the company in D.C. district court, accusing Fannie Mae of lying to it for years.  See WPost, Fannie Mae Accused Of Deceiving KPMG, Its Former Auditor.

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