Securities Law Prof Blog

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

A Member of the Law Professor Blogs Network

Friday, July 6, 2007

Former Fannie Mae CEO Sues Over Stock Award

Franklin Raines, former CEO of Fannie Mae, filed suit challenging the Office of Federal Housing Enterprise Oversight's power to delay the receipt of last month's award of 58,812 shares worth $3.9 million.  The agency has sought more information on how the board determined the number of shares awarded to Raines and other executives.  The stock awards are pegged to the company's performance from 2003-2006, including the period when earnings were misstated and regulators allege the company was mismanaged.  Raines left Fannie Mae in 2004.  See WPost, Raines Sues OFHEO Over Stock.

http://lawprofessors.typepad.com/securities/2007/07/former-fannie-m.html

News Stories | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef00e0098e1cac8833

Listed below are links to weblogs that reference Former Fannie Mae CEO Sues Over Stock Award:

Comments

Post a comment