OPERS Sues Freddie Mac in Class Action For Securities Fraud In Mortgage Industry

On behalf of the Ohio Public Employees Retirement System, commonly known as OPERS, Attorney General Marc Dann has sued Freddie Mac in Youngstown federal court, for securities fraud in the mortgage industry. The docket in the case can be found on PACER under Case No.4:2008cv00160. The nickname of Freddie Mac belongs to the Federal Home Loan Mortgage Corporation. Specifically, the suit seeks to recover millions in losses to Ohio's pensions funds caused by allegedly secret and deceptive lending practices that lead to sub-prime lending and high foreclosure rates. Click here to read the Attorney General's Press Release. Click here to read an article from the Columbus Dispatch, and click here to read an article from the Washington Business Journal.