Securities Law Prof Blog

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

Friday, February 29, 2008

Freddie Mae Reports Loss, Forms SLC

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.

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