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Federal Home Loan Mortgage Corporation (Freddie Mac) :Underwriters Of 8.375% Non-Cumulative Perpetual Preferred Stock, Series Z Summary: According to a press release dated September 23, 2008, the action names some of the underwriters for the Series Z Preferred stock: Goldman Sachs & Co., J.P. Morgan Chase & Co., and Citigroup Global Markets, Inc. The action is brought on behalf of all purchasers of the Freddie Mac Series Z Preferred who purchased shares in or traceable to the November 29, 2007 initial public offering for this security.
The complaint alleges that the defendant underwriters violated Section 12(a)(2) of the Securities Act of 1933. Plaintiff alleges that the Offering Circular and other offering materials for the $6 billion preferred stock offering, failed to warn investors about Freddie Mac's fatal exposure to mortgage-related losses, poor underwriting standards and risk management procedures, and the negative impact of those failings on the adequacy of Freddie Mac's capital. Defendants were underwriters of the Series Z Preferred initial public offering. They sold the shares to the public in a firm commitment underwriting at $25 per share less than a year ago. The shares now trade at $2 per share.
INDUSTRY CLASSIFICATION:
SIC Code: 6111
Sector: Financial
Industry: Consumer Financial Services
| COMPANY/ISSUER NAME: | Federal Home Loan Mortgage Corporation |
| COMPANY/ISSUER TICKER: | FREPZ |
| COMPANY WEBSITE: | http://www.freddiemac.com |
| FIRST IDENTIFIED COMPLAINT IN THE DATABASE | |||||||||||||||||
| Robert Mark, et al. v. Goldman Sachs & Co., et al. | |||||||||||||||||
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| DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT | |||
| Class Action Complaint | |||
| Type: Complaint | Date on the document: 9/23/2008 | ||
| U.S. District Court Civil Docket | |||
| Type: Docket | Date on the document: 10/20/2008 | ||
| OTHER DOCUMENTS | |||
| Class Action Complaint - Jury Trial Demanded | |||
| Case Name and/or Number: Adam Kreysar, et al. v. Syron, et al. | |||
| Type: Complaint | Date on the document: 01/29/2009 | ||
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