Friday, February 29, 2008
Freddie Mac reported a $2.5 billion loss in the fourth quarter of 2007 and a $3.1 billion loss for fiscal year 2007. In addition, it announced that the board formed a special litigation committee in response to two demand letters from shareholders alleging corporate mismanagement. A company spokesperson said formation of the SLC was a "pro forma action" on the part of the company. WashPost, Freddie Mac Reports $2.5 Billion Loss.